StockMarketWire.com - Oil services group Plexus booked a full-year loss after it sold its wellhead exploration equipment services business for jack-up applications and its administrative expenses rose.

Pre-tax losses for the year through June amounted to £3.7m, compared to a loss of £5.2m on-year.

Continuing operations sales revenue jumped to £3.6m, up from £0.3m, but revenue from discontinued business had amounted to £3.9m in the previous year.

Chief executive Ben van Bilderbeek said a sale of the jack-up exploration wellhead business triggered a re-setting of the company's strategy.

'In terms of rebuilding our revenue profile into one that is more balanced and diversified, a breakdown of our full year revenues demonstrates some of the progress that we have made in a short period of time,' he said.


At 9:23am: [LON:POS] Plexus Holding PLC share price was -4p at 29.5p



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