StockMarketWire.com - Clean water and air technology company Mycelx Technologies swung to a first-half profit after it notched contract wins in a recovering oil and gas sector.

Pre-tax profit for the six months through June amounted to £0.60 million, compared to year-on-year losses of £2.62 million.

Revenue rose to £4.16 million, up from £3.64 million.

'We are upbeat about our ability to win contracts due to our proven technology, operational performance and buoyant oil prices in the $65-$75 a barrel range,' chief executive Connie Mixon said.

'As we see the global economy normalize, we will continue to stay close to our customers, and the markets we are focused on, which we believe will lead to further contract awards in due course.'


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