23rd Sep 2013 09:01
LONDON (Alliance News) - Silence Therapeutics PLC Monday said it loss narrowed sharply in the first half of the year after last year's results were hit by a GBP20.6 million impairment charge, while revenues rose and it swung to a cash inflow, from an outflow last year.
It reported a loss of GBP3.4 million for the six months to end-June compared with a loss of GBP23.5 million a year earlier, but revenues rose to GBP41,000, from GBP37,000.
It reported a net cash inflow of GBP10.8 million, versus a net cash ouflow of GBP2.7 million in the first half of 2012, after it received GBP18.7 million in net proceeds from share issues. Its closing cash position at June 30 was GBP19.7 million, up from GBP950,000 a year earlier.
The company's shares were up 0.7% at 279 pence Monday morning.
By Steve McGrath; [email protected]; @SteveMcGrath1
Copyright 2013 Alliance News Limited. All Rights Reserved.
Related Shares:
SLN.L