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Windar Photonics' revenue flies ahead in H1

Wednesday, 12th July 2017
Windar Photonics said its H1 revenue of €1.3m is already higher than the total revenue recorded during the last full financial year (€1.2m).

The company said it had continued the improving trend seen in H2 2016 throughout the first half of the current financial year. H1 revenue had grown 62% on H1 2016.

Efforts to realign operational expenses have resulted in an operational cost reduction (excluding depreciation, amortisation and warrants costs) of 47% to €1.0 million (H1 2016: €1.8 million).

"As a result of the increased revenue and the lower cost base, the Company has reduced net losses in H1 2017 by 52% to €0.8 million (H1 2016: €1.8 million) and its EBITDA loss has been reduced by 73% to €0.4 million (H1 2016: €1.4 million)," the company said.

At 9:09am: (LON:WPHO) Windar Photonics Plc share price was +10.5p at 84p

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