RM2 Interational has reduced its H1 pretax loss to $23.9m, from a year-ago restated loss of $25.2m. Revenue was $3.7m, from $1.8m. "The first half of 2016 has been a period of significant strategic progress for RM2," said CEO John Walsh. "In March, Canada's largest retailer, Loblaw's, began accepting RM2's pallets in its supply chain. This was quickly followed by an agreement with Zhenshi for the production of our pallets in China at a significantly reduced cost. "After the period end, we struck a further agreement with Jabil for the mass production of our pallets in Mexico. "When fully operational, this will mean that RM2 will have a well-balanced manufacturing capability in both North America and Asia, allowing us to flex production more efficiently between two highly qualified and professional manufacturers to better meet the demands of our customers. "Demand for our innovative and environmentally friendly BLOCKPal pallet remains strong and we are in advanced discussions with a number of new customers. We expect to make a number of further announcements in the coming months."
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