Pursuit Dynamic (LSE:PDX)
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5 Years : From May 2012 to May 2017
Pursuit Dynamics PLC (PDX.LN), the developer of PDX Atomiser and PDX Reactor products and technology, reported a slightly widened pretax loss for the first half of the year, and said that it has accelerated its strategic review of the business in the light of Procter & Gamble's (PG) decision of not entering into licensing talks with the company.
-Revenue for the six months to March 31 GBP483,771 (2011: GBP104,700).
-Pretax loss GBP7.8 million (2011: loss GBP7.2 million).
-Diluted loss per share 10.21 pence (2011: 10.21 pence).
-Cash and cash equivalents GBP9.1 million (2011: GBP4.3 million).
-Full year revenue will be materially below the company's earlier views primarily due to Procter & Gamble's decision.
-Accelerated a strategic review of the business to allow an update to be provided by the end of June.
-Review is examining all options to accelerate the existing lines of business, addressing immediate internal cost saving opportunities and proactively explore external solutions.
-Shares at 0727 GMT up 3 pence, or 30%, at 13 pence.
-By Tapan Panchal, Dow Jones Newswires. Tel +44(0)207-842 9448, firstname.lastname@example.org
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