Itaconix Plc reports around 80% growth in H1FY20 revenue

Itaconix Plc (LON: ITX) has released the trading update for the half-year to 30 June 2020.

  • The company posted a surge of around 80 per cent in its revenue for the first six months of the year at $1.1 million, over the same period in 2019.
  • The company informed that the considerable revenue growth came from customers successfully launching new dishwashing products, while there was volumes and revenues increase from new and recurring orders in detergent, odour control, and personal care applications.
  • As at 30 June 2020, the net cash balances were $0.5 million, excluding the company's recent $2.2 million fundraise, which got completed after 30 June.
  • On 22nd July 2020, at the time of writing, GMT 11:57 AM, ITX shares were trading at GBX 1.33, unchanged against the previous day closing price.