21st Feb 2019 13:15
LONDON (Alliance News) - Physiomics PLC on Thursday reported a narrowed loss for the first half of its current financial year, helped by strong revenue growth.
The AIM-listed company, which develops technology to predict effects of cancer treatment, said pretax loss narrowed to GBP113,000 in the six months to the end of December 2018 from GBP220,000 recorded a year earlier, as revenue multiplied to GBP324,000 from GBP74,000.
Expenses for the half year increased to GBP485,000 compared with GBP362,000 a year earlier, mainly due to the cost of new staff, increased use of consultants and increased spend on marketing and conferences.
"The investments in staff and consultants increases the company's capacity to service client business and the investment in marketing is helping to build our pipeline of future business," explained Chair Paul Harper.
"We are looking forward to what the directors believe will be a strong second half, underpinned by contracts already secured, and look forward to providing further updates on business activities to the market going forwards," added Harper.
Physiomics shares were trading 4.9% lower on Thursday at 3.33 pence each.
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