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Pin to quick picksProteome Share News (PRM)

Share Price Information for Proteome (PRM)

London Stock Exchange
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Share Price: 8.20
Bid: 8.00
Ask: 8.30
Change: 0.00 (0.00%)
Spread: 0.30 (3.75%)
Open: 8.20
High: 8.20
Low: 8.20
Yest. Close: 8.325
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Proteome First-Half Loss Widens As Cost Rise Trumps Revenue Climb

Mon, 10th Aug 2020 10:15

(Alliance News) - Protein biomarker research firm Proteome Sciences PLC on Monday posted an interim revenue rise but a widened loss due to a "disproportionate" cost increase.

Shares in the company were 17% lower at 3.90 pence each in London on Monday morning.

In the six months to June 30, revenue climbed 9.1% annually to GBP1.9 million from GBP1.7 million.

Proteome posted a pretax loss of GBP484,000, stretched from GBP410,000 a year earlier.

Administrative expenses were 14% higher year-on-year at GBP1.4 million, Proteome noted.

The company explained: "The increase in revenues was matched by a disproportionate increase in costs as we had to bring forward some TMTpro re-stocking in light of strong sales in the last quarter of 2019. Costs otherwise remained flat and the net impact is a similar loss before tax with the equivalent period last year.

By Eric Cunha; ericcunha@alliancenews.com

Copyright 2020 Alliance News Limited. All Rights Reserved.

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