26th Sep 2018 11:33
LONDON (Alliance News) - Stone quarrying firm Fox Marble Holdings PLC said Wednesday its interim loss narrowed as marble sales grew and it continues to build its customer base.
For the six months ended June, pretax loss narrowed to GBP816,000 from GBP1.4 million the year prior. This was after revenue doubled to GBP615,000 from GBP329,000 the year before.
Profit performance was also helped by a fall in administrative expenses to GBP1.2 million from GBP1.4 million the year prior.
"We continue to build our customer base and sales, and, with the factory fully operational, we are now able to process and sell marble slabs and tiles throughout the year," Fox Marble Chief Executive Officer Chris Gilbert said.
"Our material, particularly the Illirico Selene and Alexandrian White, is proving very popular, and we are working hard to meet the demand our sales and marketing effort has created," Gilbert added. "We expect that our new sales base in Dubai will bear fruit in the coming months, and we are already in discussion with potential customers in the region."
Shares in Fox were 5.5% higher at 7.12 pence on Wednesday.
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