1st Nov 2021 13:47
(Alliance News) - Fox Marble Holdings PLC on Monday announced that it has agreed to sell EUR200,000 worth of Alexandrian White marble to a Europe-focused supplier of building material.
The first shipment of 300 tonnes has already been successfully completed.
The London-based marble producer is still facing high shipping costs, project delays due to weather and Covid-19 and a "faltering" block marble market post-pandemic.
However, revenues for the sale of processed marble products increased to EUR200,000 in the first half of 2021 compared to losses of EUR200,000 in the same period a year before.
The revenue recorded in the two months to 30 August 2021 was EUR300,000.
"The market for block marble has been subject to significant disruption due to Covid-19. However, with this agreement and others that are being negotiated and are expected to be announced in due course, we are seeing signs of recovery. We expect to see the benefit of these agreements primarily in 2022," stated Chief Executive Officer Chris Gilbert.
Shares in Fox Marble remained flat at 1.31 pence on Monday afternoon in London.
By Abby Amoakuh; [email protected]
Copyright 2021 Alliance News Limited. All Rights Reserved.
Related Shares:
FOX.L