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SulNOx Group PLC - London-based supplier of fuel conditioners - Posts higher yearly loss as administrative expenses more than double. Pretax loss in the year to March 31 widens to £2.0 million from £855,702 a year prior. Revenue grows to £33,522 from £17,896. Administrative costs jump to £2.0 million from £861,218. Firm states shipping remains a top industry focus. Aims for bigger expansion in North America, citing US's new climate legislation.
Looking forward, Chair Radu Florescu states: ‘Having now sold product in 17 countries worldwide and to around 90 clients in the first four months of [financial year] 2023, I believe we are at the 'knee of the revenue curve'’.
Current stock price: 16.5 pence
12-month change: down 56%
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