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(Sharecast News) - Accsys Technologies said on Tuesday that it remained on track to meet its 2027 strategic targets after reporting higher revenue and improved profitability for the year ended 31 March.
The AIM-traded sustainable wood products maker said group revenue rose 12% to 153m, or 20% on a like-for-like basis, while adjusted EBITDA increased 96% to 21.2m.
Its statutory pre-tax loss narrowed to 0.6m from 20.8m, and underlying basic earnings per share improved to 2.1 euro cents from a loss of 5.0cents.
Chief executive Dr Jelena Arsic van Os said the results reflected "disciplined execution" of the company's FOCUS strategy in a challenging macroeconomic environment.
Accsys said total Accoya sales volumes rose 21%, supported by 60% growth in North America, while its Accoya USA joint venture delivered EBITDA profitability in its first full financial year of trading.
At 1109 BST, shares in Accsys Technologies were up 3.3% at 79.54p.
Reporting by Josh White for Sharecast.com.
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