Itaconix PLC Full Year Trading Update (2163Z)
09 Enero 2020 - 01:00AM
UK Regulatory
TIDMITX
RNS Number : 2163Z
Itaconix PLC
09 January 2020
9 January 2020
Itaconix plc ("Itaconix" or the "Company")
Full Year Trading Update
Itaconix (LSE: ITX) (OTCQB: ITXXF), a leading innovator in
sustainable specialty polymers, is pleased to announce the
following trading update for the year to 31 December 2019.
Unaudited revenues for the year were GBP1.1 million,
representing 59.6% growth over 2018.
Unaudited LBITDA(1) was in line with management
expectations.
Net cash balances as of 31 December 2019 were GBP0.6 million and
include GBP0.13 million in R&D tax credits received ahead of
expectations before the year end.
John R. Shaw, CEO of Itaconix, stated: "The acceleration in our
revenue growth reflects growing commercial validation and
consistent progress with customer projects across all of our
products and application areas. Our ingredients have unique value
that offer performance, cost, and sustainability advantages for the
next generation of products used in everyday applications. Our
pipeline continues to strengthen as we maintain our focus on
accelerating key revenue opportunities in the first half of
2020."
(1) Loss before interest, tax, depreciation and amortisation
Ends
For further information please contact:
Itaconix +1 (603) 775 4400
John R. Shaw / Laura Denner
N+1 Singer +44 (0) 207 496 3000
Richard Lindley / James Moat (Corporate
Finance)
Mia Gardner (Corporate Broking)
About Itaconix
Itaconix plc (LSE: ITX) is a leading innovator in bio-based
functional ingredients for improving the safety and performance of
homecare, personal care, and industrial products. Its proprietary
polymer technology generates a growing range of new ingredients
with unique functionality that meet consumer demands for value and
sustainability.
www.itaconix.com
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END
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