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SulNOx Group PLC - London-based greentech innovation company helping industry reduce emissions, lower fuel costs and meet sustainability targets - Announces that pretax loss remains virtually unchanged at £1.9 million in the financial year ended March 31. Turnover jumps to £544,120 from £203,076. Administrative expenses increase 4.1% to £2.1 million from £2.0 million, while cost of sales increase to £373,651 from £138,090. The company, like a year ago, does not recommend a dividend. Looking ahead, SulNOx says: ‘The African market and Asian Marine market, which remain an important focus for SulNOx, are expected to be the key drivers for our business in the second half of 2024. The US and Asian markets share common ground as both are important bases of potential growth in both shipping and land-based consumption of our product.’ It added: ‘Europe’s economy is back on an even keel and is expected to demonstrate slow and steady growth ahead. Accordingly, the group has invested more manpower resources in the region, on the basis that a stronger European economy is positive for the group’s business development there.’
Current stock price: 32.92 pence each, up 9.7% on Monday afternoon on London’s Aquis Exchange
12-month change: up 83%
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