Microsaic Systems posts loss; expects sales momentum to continue in second half

Mon, 27th Sep 2021

Snalytical equipment developer Microsaic Systems posted a first-half loss after rising revenue was more than offset by R&D and other expenses. Pre-tax losses for the six months through June amounted to £2.11 million, compared to year-on-year losses of £1.48 million. Revenue rose to £0.50 million, up from £0.07 million, an increase the the company said was underpinned by a strategic change of business model early in 2021. Microsaic Systems said it expected the sales momentum of in the first half to continue in the second, based on its sales pipeline. Potential collaborations and trials with DeepVerge may lead to significant opportunities in environmental water detection, it added. 'I am thrilled to report this transformational performance for the first half of 2021, following the effects the Covid-19 lockdown had on our customers, suppliers and employees throughout 2020 and the operational and financial strain this placed on the company,' chief executive Glenn Tracey said. 'The new commercial strategy of collaborating, partnering and revenue sharing is moving the company away from equipment-only sales.' Story provided by StockMarketWire.com

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