Provexis halves interim losses thanks to reduced Fruitflow costs

30th Dec 2014 10:10

Provexis, developer of anti-thrombotic product Fruitflow, decreased its losses during the first half of the year due to a reduction in production costs.The AIM-listed company made first revenues during the period ended 30 September rose to £0.83m and losses before tax were more than halved from £0.58m to £0.21m.Nevertheless, cash and equivalents declined to £0.37m from £0.56m.Fruitflow, a tomato extract which inhibits platelet aggregation, a known cause of heart attack, stroke and venous thrombosis, increased its commercialisation during the period to 30 different regional consumer healthcare brands thanks in part to its partnership with Royal DSM, the Dutch health and nutrition giant.Chairman Dawson Buck said: "While DSM's high scale-up related costs of powder manufacturing reduced our share of profits in the period, it is pleasing to note that a reduction in production costs for Fruitflow powder has now been realised."With the company's very low operational costs we are well positioned to drive value for shareholders, and we remain positive about the outlook for the business."