StockMarketWire.com - Polymers maker Itaconix cut its losses in the first half of the year, owing to higher margins and higher revenue.

For the six months ended 30 June 2021, pre-tax losses narrowed 78% to $0.2 million as revenues rose 26% to $1.4 million.

Gross profit margin was 38% compared to 35% for the full year of 2020.

Looking ahead, the company said revenues for full year 2021 would depend on 'the timing of initial orders from new customers and applications launching in early 2022, and on the continued recovery in detergent and hair care volumes from the inventory adjustments and supply delays.'


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