Itaconix H1 revenue, unaudited gross profits hit record highs

(Sharecast News) - Specialty polymers business Itaconix said on Wednesday that it had delivered record interim revenues, with cleaning revenues leading the way. Itaconix said H125 unaudited revenues came to $4.8m, up 73% year-on-year, driven by an 87% increase in cleaning revenues to $4.3m. Hygiene and beauty products revenue also made commercial progress, with 9% revenue growth to $500,000 in the period.

Europe led the Itaconix's overall commercial progress, with a 149% increase in H1 European revenues, driven mainly by reoccurring orders. "Continued success" in diversifying the its customer base also saw Itaconix generate 53% growth in H1 North America revenues.

Additionally, Itaconix said it had maintained overall FY24 gross profit margins, converting its H1 revenue performance into record unaudited gross profits.

With H1 trading in line with internal expectations and the AIM-listed group making a "positive start to H2", expectations for FY25 remained unchanged. However, Itaconix noted that it will continue to monitor US trade policies, the macroeconomic environment and customer ordering patterns.

As of 1110 BST, Itaconix shares were up 8.86% at 138.80p.





Reporting by Iain Gilbert at Sharecast.com