30th Sep 2016 10:45
LONDON (Alliance News) - Cold storage and commodity trading company Norish PLC said Friday revenue across both its divisions was up in the first half of the year.
AIM-listed Norish reported a pretax profit on continuing operations of GBP350,000 for the six months to June 30, up from GBP245,000 the year prior. This was partially offset by a discontinued operation loss of GBP40,000, up from GBP29,00 year on year. Revenue was up to GBP15.6 million from GBP11.8 million.
Revenue was up in Norish's commodity trading business by 52% to GBP9.3 million from GBP6.1 million and its cold storage arm by 11% to GBP6.3 million from GBP5.7 million.
Norish also raised GBP4.9 million in net equity from a fund raise in December 2015, bringing total equity to GBP15.6 million at June 30 from GBP10.3 million at the same date in 2015.
Norish said in it cold storage division it was "cautiously optimistic for growth in 2017" and that it was "very pleased" by growth in its commodity trading in the first half which has continued into the second half.
Shares in Norish were up 3.0% at 45.30 pence Friday.
By Adam Clark; [email protected]
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