(Alliance News) - Plexus Holdings PLC on Friday reported a widened full-year loss but a rise in revenue on more operational project work.
The West Sussex-based engineering services provider reported that its pretax loss widened to GBP5.6 million in the year to June 30 from GBP4.4 million a year before.
Administrative expenses increased 5.5% to GBP5.8 million versus GBP5.5 million. Finance costs multiplied to GBP640,000 from GBP103,000.
Revenue amounted to GBP2.3 million, up 15% versus GBP2.0 million.
The increase in continuing sales revenue is a result of increased operational project work taking place during the year, it explained.
Looking ahead, Plexus said that it is confident that its sales team will convert its increasing number of enquiries and tenders into contracts.
Shares were untraded on Friday morning in London, last quoted at 2.30 pence each.
By Abby Amoakuh; abbyamoakuh@alliancenews.com
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Plexus (POS)