LONDON (Alliance News) - Zinc recycling plant operator ZincOx Resources PLC Wednesday reported a narrowed pretax loss for its first half, and said its key focus remains the optimisation of its Korean Recycling Plant.
For the half year to end-June the company reported a pretax loss of USD6.2 million, narrowed from a pretax loss of USD7.6 million, as a rise in revenue to USD22.7 million from USD17.8 million was partly offset by higher administrative costs.
The company attributed its improved performance to its Korean Recycling Plant, both in terms of throughput and its operational performance.
"The huge improvement in consistency and performance at KRP has turned around the profitability of the operation, and the importation of feed and removal of the heat exchangers will enable us to realise the full potential of this flagship plant," said Chairman Rod Beddows in a statement.
Shares in ZincOx were down 9.3% at 7.60 pence Wednesday afternoon.
By Hana Stewart-Smith; hanassmith@alliancenews.com; @HanaSSAllNews
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