Cambridge Nutritional Sciences PLC on Thursday reported a narrowed interim loss as revenue surged, noting growing demand in its outlook.
The Ely, Cambridgeshire-based diagnostics company said in the six months ended September 30, pretax loss narrowed 17% to £698,000 from £842,000 a year prior.
Revenue jumped 44% to £4.9 million from £3.4 million. Cost of sales increased 16% to £1.8 million from £1.6 million. Administrative costs increased 40% to £2.7 million from £2.0 million.
Looking ahead for the current financial year ending March 31, the company anticipates to meet market expectations. It cited a ‘healthy’ pipeline of sales, adding sales from three new countries with expanding demand via its scientific educational programmes.
Chief Executive Officer Jag Grewal said: ‘The first half of this year delivered encouraging performance in both financial and operational terms. It is particularly reassuring to see improvements in the operational side of the business yielding tangible results. We continue to build a new foundation as a standalone business and believe we have the right strategy and vision to build on a leadership position in the exciting market of personalised health and nutrition.’
Cambridge Nutrition shares rose 5.5% to 2.69 pence each on Thursday afternoon in London.
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