26th Feb 2024 11:27
(Alliance News) - EnSilica PLC on Monday reported a jump in its half-year revenue, but said an increase in costs widened its loss.
Shares in EnSilica were up 29% at 65.16 pence each in London on Monday morning.
The Oxfordshire, England-based semiconductor designer and supplier said revenue climbed 12% to GBP9.6 million in the six months ended November 30 from GBP8.6 million a year before.
Pretax loss widened to GBP309,000 from GBP202,000, mainly driven by a 17% increase in administrative expenses to GBP4.1 million from GBP3.5 million a year prior.
The firm cited a "solid start" to the second half of its financial year, seeing committed supply revenue of around USD73 million and a pipeline of opportunities currently valued at around GBP512 million, which underpins the firm's expectations for financial 2024.
"We are delighted with the continued operational progress delivered across the period, particularly the quantity and quality of contract wins secured with companies across a range of sectors. This is testament to our expert team which is highly focused on driving the growth of the business and helping EnSilica deliver on its strategic ambitions," said Chief Exeuctive Officer Ian Lankshear.
By Sabrina Penty, Alliance News reporter
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