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SNOX Sulnox Group PLC

39.00
0.00 (0.00%)
07:09:39 - Realtime Data
Share Name Share Symbol Market Type Share ISIN Share Description
Sulnox Group PLC AQSE:SNOX Aquis Stock Exchange Ordinary Share GB00BJVQQP66
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 39.00 38.00 40.00 39.00 39.00 39.00 0.00 07:09:39
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
0 0 N/A 0

SulNOx Group PLC Trading Update (7530Z)

16/01/2024 7:00am

UK Regulatory


Sulnox (AQSE:SNOX)
Historical Stock Chart


From Oct 2023 to Oct 2024

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TIDMSNOX

RNS Number : 7530Z

SulNOx Group PLC

16 January 2024

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF REGULATION 11 OF THE MARKET ABUSE (AMENDMENT) (EU EXIT) REGULATIONS 2019/310

16 January 2024

SulNOx Group Plc (the "Company" or "SulNOx")

Trading Update: Record quarterly revenues, up 84%

(Aquis Stock Exchange: SNOX)

Q3 Trading Update (to 31 December 2023)

-- Unaudited Q3 revenues of GBP98.4k, up 84% on Q2 (GBP53.5k) and up 115% vs Q3 to 31 December 2022 (GBP45.7k), representing SulNOx's best trading quarter to date.

-- Unaudited 9 months revenues were GBP240.1k, double the previous year (GBP120.5k) and already more than the full year to 31 March 2023 (GBP203.1k).

-- Q4 has also started positively, with invoiced sales of GBP64.5k and a strong revenue pipeline as positive evaluation results continue to materialise across the shipping, mining and logistics sectors and in new geographies.

   --    Unaudited cash balance of GBP2.68 million as at 31 December 2023. 

Shipping update

Around half of the revenues in Q3 came from shipping clients. Today the Company has 11 shipping companies trialling the product with a combined fleet size of >800 vessels and a further 3 companies with another c.600 ships having agreed to paid trials. The pipeline is very strong with c.30 other shipping companies in discussion regarding trials, which we expect to convert in the coming quarters - combined their fleets are a further c.4,000 ships and includes many major companies.

Other updates

The Company has been granted a Ukrainian patent to add to the US, European, Eurasian, Chinese, South African and Georgian patents already secured.

Press Activity

SulNOx is gaining considerable momentum in raising its profile, both with commercial audiences and the investment community. Notable coverage has been achieved in recent months across trade media for our target sectors, as well as in national newspaper business pages. We believe that this exposure has led directly to inbound interest from potential corporate customers.

In recent days SulNOx has been featured in the "Midas" stock market column in the Mail on Sunday newspaper and online within "This Is Money", the financial section of MailOnline. The full article can be read here:

https://www.thisismoney.co.uk/money/investing/article-12959177/MIDAS-SHARE-TIPS-SulNOx-formula-cuts-fuel-bills-help-power-profits.html

Radu Florescu, Chairman of SulNOx Group commented, "Q3 was a remarkable quarter in many ways. SulNOx has demonstrated our significant fuel saving capabilities with several large-scale shipping companies facing new costly regulations focussed on reducing emissions from fossil fuel consumption. Q3 also marked our products taking off in Africa and, with an exciting pipeline of large-scale global opportunities, significant funding secured from new and long-term investors for new research and further expansion plans, 2024 points to SulNOx having a transformational year."

- Ends -

For further information please contact:

 
 SulNOx Group plc                  steven.cowin@sulnoxgroup.com 
  Steven Cowin, CFO 
 
 Allenby Capital Limited           Tel: 020 3328 5656 
  (AQSE Corporate Adviser) 
  Nick Harriss / John Depasquale 
 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.

END

NEXBAMRTMTMBBAI

(END) Dow Jones Newswires

January 16, 2024 02:00 ET (07:00 GMT)

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