Kromek Group falls on wider HY loss

Kromek

31/01/2023 14:48

** Shares of UK-based radiation equipment maker Kromek Group
Plc  KMK.L  down as much as 13% at 9.01p  
    ** Stock set to post worst day since Feb. 2021 if losses
hold 
    ** KMK posts wider HY adjusted core loss of 2.7 mln pounds
($3.32 mln) vs 630,000 pounds loss a year earlier  urn:newsml:reuters.com:*:nL8N34G1P1 
    ** Says increased operating costs and lower income resulted
in wider loss 
    ** "Whilst we have been significantly impacted during the
period by the inflationary environment and currency pressures,
we are seeing this ease in the second half and, combined with
strong revenue growth, expect to be EBITDA positive for H2 2023"
- CEO Arnab Basu
    ** Adds HY pretax loss was 5.7 mln pounds vs a loss of 3.1
mln pounds a year earlier 
    ** HY revenue rose 44% to 6.8 mln pounds 
    ** Stock fell ~32% in 2022
($1 = 0.8121 pounds) 
 (Reporting by Amna Karimi in Bengaluru)
 ((Amna.Karimi@thomsonreuters.com; +91 8083261226;))