Provexis (PXS)

 

Provexis expects to report on strong year of progress

Provexis expects to report on a strong year of progress.

It expected to report revenues for the year ended 31 March 2017 of £228k, a 148% year on year increase (2016: £92k).

Revenues accruing to the company for the year from its profit sharing Alliance for Fruitflow were £153k, a 66% year on year increase (2016: £92k).

The company also expected to report an underlying operating loss for the year of £382k (2016: loss of £385k), a record low for the Group.

Separately, Provexis said it had raised £350,000 via a placing of 70m new shares at a discounted 0.50p each.