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| Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
|---|---|---|---|---|---|
| Itaconix Plc | LSE:ITX | London | Ordinary Share | GB00BPK3YZ68 | ORD 50P |
| Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.00 | 0.00% | 155.00 | 150.00 | 160.00 | 155.00 | 155.00 | 155.00 | 13,227 | 08:00:00 |
| Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
|---|---|---|---|---|---|
| Chemicals & Chem Preps, Nec | 5.6M | -2.46M | -0.1826 | -8.49 | 20.9M |
From Apr 2019 to Apr 2024
TIDMITX
RNS Number : 2816Q
Itaconix PLC
18 February 2019
18 February 2019
Itaconix plc ("Itaconix" or the "Company")
Full Year Trading Update
Itaconix (AIM: ITX), a leading innovator in sustainable specialty polymers, is pleased to announce the following trading update for the year to 31 December 2018.
Unaudited revenues for the year were GBP0.7 million, with unaudited EBITDA(1) in line with expectations. In addition, the Company successfully completed the previously announced restructuring of its UK operations, reducing its overall cost base for ongoing operations in the second half of 2018 to a rate of GBP2.1 million per annum.
Net cash balances as of 31 December 2018 were GBP2.1 million. The Company is also shortly expected to receive GBP0.3 million of cash from R&D tax credits related to expenditure in 2017.
Since the year end, the Company has announced a supply agreement with Nouryon for Itaconix polymers to be used in non-phosphate detergents.
"We achieved major progress in the second half of 2018 and the start to 2019 with increased revenues, another collaboration with a worldwide leader, and a major reduction in our fixed costs," said John R. Shaw, CEO of Itaconix. "I believe we are well positioned for continued revenue growth in our core markets of non-phosphate detergents, odor control, and hair styling."
(1) Loss before interest, tax, depreciation and amortisation.
Ends
For further information please contact:
Itaconix +1 (603) 775 4400 John R. Shaw / Michael Norris N+1 Singer +44 (0) 207 496 3000 Richard Lindley / James Moat (Corporate Finance) Mia Gardner (Corporate Broking)
About Itaconix
Itaconix develops and produces bio-based specialty polymers that improve the safety, performance and sustainability of consumer and industrial products, with technology and market leadership positions in non-phosphate detergents, odor control, and hair styling.
www.itaconix.com
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.
END
TSTBIGDDDXBBGCU
(END) Dow Jones Newswires
February 18, 2019 02:00 ET (07:00 GMT)
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