Oxford Pharmascience saw revenues jump in the first half after it signed a sales deal with one of Brazil's largest pharmaceutical companies.
Revenues came in at £341,000, up from £20,000 the year before, with sales to Brazil's Ach making up the lions share.
The pharmaceutical technology company cut its pre-tax loss to £399,000, from £501,000 in the first half of 2011, with loss per share coming in at 0.07p.
MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Chairman David Norwood said 2011 was a breakthrough year for the company having changed its focus to the higher value pharmaceutical market.
"The commencement of sales to Ach, one of Brazil's largest pharmaceutical companies and the launch of its OXP zero taste masking technology left [the company] well placed going into this year," he said.
-
Millions at risk of 'unnecessary' tax bill – how to shield your savingsMillions of Brits could be taxed on their savings interest this year as their savings interest exceeds the personal savings allowance. Are you at risk?
-
Savers will have to wait as long as 48 years to build a £1m cash ISA pot if allowance is cutChancellor Rachel Reeves is rumoured to be planning a cut to the cash ISA allowance in the Autumn Budget, making it harder for savers to build wealth. Will you still be able to build a £1 million cash ISA pot?
