Accsys Technologies' shares tumble after wider H1 loss

Accsys Technologies' shares are down a jot less than 10% after it turned in a wider first-half pre-tax loss on lower total revenue.

"In this financial period we have made further significant strategic and operational progress to increase our Accoya and Tricoya manufacturing capacity which will be transformational for the group," said chief executive Paul Clegg.

"The expansion of the Accoya plant in Arnhem and the formation of the Tricoya consortium are both fundamental for the future of the company," he added.

Clegg also noted that despite the lower half-year results, the company remained "confident of the results for the full year and beyond."

First-half pre-tax loss was €2.9m, from a €0.1m shortfall year ago. Total revenue was €25.1m, from €26.3m. However, Accoya revenue rose to €22.5m, from €21.9m.

At 13:59 GMT, shares in AIM-quoted Accsys were down 9.19% to 61.75p.