Accsys Technologies PLC - London-based wood building products manufacturer - Reports total group revenue of €58.9 million for the six months that ended on September 30, up 4.8% from €56.2 million a year earlier. Says revenue is driven by increased average sales prices and product mix, despite lower volumes. However, the company swings to a pretax loss of €56.3 million, from a profit of €662,000, as other operating costs surged to €75.3 million from €15.8 million a year ago.

Looking ahead, Accsys Technologies continues to see ‘strong demand for its Accoya and Tricoya products’ as customers focus on higher performance materials and sustainability in their procurement decisions. Says it remains confident both in the near term and longer-term demand and growth opportunity for market-leading products.

Chief Executive Officer Robert Harris: ‘With this demand, which continues to exceed supply, we have been able to substantially offset the wider market pressures from raw materials costs and supply chain disruption through price increases.’

Current stock price: 65.00 pence, up 5.5% on Tuesday in London

12-month change: down 58%

Copyright 2022 Alliance News Limited. All Rights Reserved.