Corac, the engineering technology company, has risen sharply in morning trading after revealing reduced losses and emphasising the potential of its recent purchase of Wellman Hunt Graham and Wellman Defence. A new design for a modular compression system also appears to have boosted hopes for the firm.
Revenues for 2011 were £0.32m, broadly in line with the consensus forecast of £0.34m, while losses before tax were less than expected at £5.67m (consensus £6.16m).
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