29th Dec 2025 09:43
(Alliance News) - Sulnox Group PLC on Monday reported a widened interim loss following a share value transfer expense, despite a surge in revenue.
The London-based green fuel technology developer said pretax loss widened to GBP3.7 million for the six months ended September 30 from GBP1.2 million a year ago.
The bottom line was largely weakened by a share value transfer expense of GBP2.2 million, followed by administrative expenses rising 31% to GBP1.8 million from GBP1.4 million.
As part of a subscription agreement with EPS Ventures Pte Ltd, Sulnox allotted 4.2 million new ordinary shares of GBP0.02 each to EPSV in the period.
Revenue surged to GBP1.2 million from GBP440,327, which the group attributed to repeat demand and rising new client numbers.
Cash and cash equivalents stood at GBP1.4 million, jumping 70% from GBP804,434 a year ago, as the company raised GBP1.0 million from the issuance of new ordinary shares in the period.
Looking ahead, Chair Radu Florescu said: "Momentum has continued into the second half, supported by a growing pipeline and an expanding base of committed users.
"As a result, the board remains confident in the outlook and in Sulnox's ability to convert its commercial progress into scalable, cash-generative growth as industries work to reduce fuel costs and emissions without capital expenditure or disruption."
Shares in Aquis-listed Sulnox were flat at 82.50 pence on Monday morning in London.
By Roya Shahidi, Alliance News reporter
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