21st Mar 2016 11:20
LONDON (Alliance News) - Polymer technology company Revolymer PLC on Monday reported a narrowed pretax loss in 2015, as revenue was boosted by sales of nicotine gum in Canada and it booked lower administration costs.
Revolymer, which develops ingredients for use in home care and personal care products, coatings, adhesives and medicated chewing gum, said its pretax loss in 2015 narrowed to GBP3.6 million from GBP4.3 million in 2014, as revenue rose to GBP1.2 million from GBP1.0 million.
Revolymer said revenue mostly benefited from sales of nicotine gum in Canada, while its loss narrowed due to a reduction in administration expenses and a non-cash credit in respect of share-based payments.
"Whilst 2015 has been a continued period of change and evolution for the business, I and the rest of the board firmly believe that, under the leadership of Kevin Matthews, Revolymer is well placed to deliver on its strategy," Chairman Bryan Dobson said in a statement.
Shares in Revolymer were trading down 5.2% at 53.10 pence on Monday morning.
By Karolina Kaminska; [email protected] @KarolinaAllNews
Copyright 2016 Alliance News Limited. All Rights Reserved.
Related Shares:
REVO.L