Business
Preliminary Results
Preliminary Results.
About this update from Accsys Technologies Plc
[{"type":"text","content":"\n RNS Number : 9144N Accsys Technologies PLC 21 June 2010 \n \n\n\n\n\n\nRegulatory Announcement\n\n\n\n\n \n\n\n\n\n\n\n\n\nCompany\n\n\nAccsys Technologies PLC \n\n\n\n\n\n\n\nTIDM\n\n\nAXS \n\n\n\n\nHeadline\n\n\n\n\n\n\n\nReleased \n\n\n21 June 2010\n\n\n\n\nNumber\n\n\n\n\n\n \n\n\n\n\n\n\n\n\n\nDate: 21 JUNE 2010\nAIM: AXS\nNYSE Euronext Amsterdam: AXS\nACCSYS TECHNOLOGIES PLC\nPRELIMINARY ANNOUNCEMENT OF RESULTS FOR\nTHE 12 MONTHS ENDED 31 MARCH 2010\nAccsys Technologies PLC (www.accsysplc.com) is an environmental science and technology company focused on 'sustainability' via the development and commercialisation of a range of transformational technologies based upon the acetylation of solid wood and wood elements.\nFinancial Highlights\n· Revenue of €16.7 million (2009: €31.2 million). \n· 71% reduction in licence revenue to €6.7m.\n· Pre tax loss, before impairment charges relating to Diamond Wood, of € 16.7 million.\n· Pre tax loss, after impairment charges relating to Diamond Wood of €52.2m (2009: profit of €1.8m)\n· One-off non-cash impairment charges relating to Diamond Wood totalling €35.5 million.\n· Net loss of €52.1 million (2009: profit of €5.4m).\n· Cash of €18.3m (2009: €17.5 million).\nOperational Highlights\n· Substantially amended licence agreement with Diamond Wood agreed with plant expected to be operational from 2012 (subject to the completion of their fund-raising).\n· Revenue from the sale of Accoya® wood has increased by 33% to €9.1 million.\n· Unveiling of world's first Medite Tricoya® panel, the first acetylated medium density fibreboard (MDF), resulting from our Joint Development Agreement with Medite (Europe) Limited. \n· One of the first companies in the European Union to achieve prestigious Cradle to Cradle Gold certification for Accoya® wood. \n· 15 new Accoya® wood distribution agency and supply agreements signed since the last financial year resulting in a total of 19. \n· The Board has been restructured to match the current market environm...