StockMarketWire.com - Mass spectrometry instrument developer Microsaic Systems booked a deeper annual loss, as rising revenue was offset by higher spending.

Pre-tax losses for the year through December amounted to £3.0m, compared to losses of £2.9k on-year.

Revenue rose 69% to around £0.6m, though operating expenses rose 8% due to business development costs.

Cash balances at year end were £5.4m.

'2018 marks the year of accelerated growth for the business,' chief executive Glenn Tracey said.

'Microsaic has increased its customer base from one partner to eight and has extended its geographic reach to now include Southeast Asia, Europe and North America, with further growth planned in 2019.'


At 8:04am: [LON:MSYS] Microsaic Systems PLC share price was +0.2p at 1.65p



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