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Provexis

  • BY: Andrew Hore |
  • POSTED: 21/08/2014 |

Functional food ingredients supplier Provexis reported a lower operating loss on continuing operations in the year to March 2014 but revenues remain modest. 

Provexis has restructured since the demerger of Science In Sport and the focus is on becoming a low overhead licensing business. More than 27 regional consumer healthcare brands contain the company’s Fruitflow ingredient. Provexis’ partner DSM Nutritional Products markets Fruitflow. The powder version of Fruitflow was launched last year and the related costs held back revenues received from DSM because they are based on a division of profit. Revenues from continuing operations declined from £37,000 to £4,000.

At 0.73p a share, Provexis is valued at £11.4m. There was cash of £515,000 at the end of March 2014, which is less than last year’s cash outflow from operations. Since then, £45,000 has been raised.

Download the latest AIM Journal from http://www.hubinvest.com/AIMPDFAugust2014_59.pdf

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