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Provexis losses narrow in H1 as lower costs offset revenue decline

Fri, 31st Dec 2021

Provexis reported narrower first-half losses as lower costs offset a decline in revenue. For the six months ended 30 September 2021, pre-tax losses narrowed to £114,539 from £202,294 year-on-year, while revenue fell to £211,195 from £237,075. Revenue was held back by 'short term lockdowns and other COVID-19 disruptions in some of the growing markets for Fruitflow in the Asia Pacific region,' the company said. Looking ahead, the company talked up the future prospects for Fruitflow following the supply and distribution agreement signed with By-Health in November 2021. 'By-Health currently expects to be in a position to complete the last of its eight studies in 2022, and it will file its regulatory submission to the SAMR for Fruitflow at the appropriate time, seeking to obtain a new permitted health function claim for foods such as Fruitflow that can demonstrate an anti-platelet effect,' the company said. 'If By-Health is successful in obtaining a new permitted health function claim, it is currently expected that this would result in some significant orders for Fruitflow, potentially at a multiple of current total sales values,' it added. Story provided by StockMarketWire.com

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