12th Sep 2013 10:46
LONDON (Alliance News) - Healthcare company Futura Medical PLC Thursday said it narrowed its pretax losses during the first half, as it launched a number of new products in its markets.
The condom manufacturer posted pretax losses of GBP1.0 million for the period ended 30 June, down from GBP1.1 million a year earlier, while revenue jumped to GBP320,513, from GBP75,000.
Futura said it had net losses of GBP0.88 million in the period, with net cash outflow of GBP0.70 million.
Cash resources stood at GBP2.1 million, down from GBP2.8 million in December.
However, the firm said it has now signed two licensing deals and received positive opinion from European regulators regarding its CSD500 condom, which is lined with a gel that promises to increase blood flow to the male member, giving bigger, firmer erections.
Futura expects the product to be launched in three continents next year.
The company also has added two pain relief products to its portfolio.
Futura shares were trading at 76.00 pence Thursday morning, down 4.00 pence, or 5.0%.
By Anthony Tshibangu; [email protected]; @AnthonyAllNews
Copyright 2013 Alliance News Limited. All Rights Reserved.
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