Itaconix PLC - Trading Update
This announcement contains inside information for the purposes of Article 7 of Regulation (EU) No 596/2014.
Itaconix, a leading innovator in sustainable specialty polymers, provides an update on trading for the year ending
Revenues for the first three quarters of 2019 ended
As a result of lower than expected revenues and also some one-off costs related to new product development, the Board expects that the EBITDA(1) loss for the second half of the year will be broadly in line with the £1.0m loss for the first half of the year, which will be a substantial improvement over the £3.9m EBITDA loss for 2018.
Other than an R&D tax credit of c.
John R. Shaw, CEO of Itaconix, stated: "The use of our novel products in an increasing range of end-products is establishing a broad customer base for long-term revenue growth and ultimate profitability. While project delays can be rather frustrating, our commercial momentum continues to build, we remain confident about our outlook, and our future remains equally bright."
1 Earnings before interest, tax, depreciation and amortisation.
For further information please contact:
+1 (603) 775 4400
John R. Shaw
+44 (0) 207 496 3000
Richard Lindley / James Moat (Corporate Finance)
Mia Gardner (Corporate Broking)
This information is provided by RNS, the news service of the
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Market Cap: £3.69 m
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