Shares in fluid technology solutions developer Pursuit Dynamics have continued to fall in recent weeks, down more than 10% in the past month, and the company has said it does not know why this might be the case. The firm added that its discussions with US household goods leviathan Procter and Gamble are nearing an outcome and it expects to be in a position to update the market by May 24th.
Ilika, an advanced cleantech materials discovery company, has reported substantial growth in joint development and contract research revenues in the financial year ended April 30th. Total revenues, including other grant income, increased to around £2.3m, 21% ahead of the previous year's total revenues (2011: £1.90m). Turnover from operations increased to around £2.0m, 30% ahead of the previous year (2011: £1.54m). Earnings before interest, tax, depreciation and amortisation (EBITDA) improved slightly compared with last year's reported loss of £1.81m and losses before tax for the year improved compared with last year's reported loss of £3.15m, although in both cases the company declined to give figures for the current year. Cash balances totalled £5.3m at April 30th, reflecting a recent share placing which raised £4.6m after expenses.
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