Provexis struggles to grow revenue as it reports half year results
Source - SMW
Provexis has reported £124,259 revenue for the six months to 30 September 2017, barely above the £123,456 it generated in the same period a year earlier.
The business made a £195,227 pre-tax loss in the half year period.
Provexis said that it, alongside its commercial partner DSM, had seen an encouraging increase in brand awareness and customer interest in its Fruitflow heart-health functional food ingredient in recent months.
'Total projected annual sales value of the prospective sales pipeline for Fruitflow now stands at a further new all-time high level,' it added.
Provexis warned that it may need to raise more cash for working capital on occasions in the future given it remains loss-making. It ended the half year period with £482,942 cash.