Vectura posts flat sales and increased loss for first-half 2013
UK-based developer of inhaled therapies Vectura Group (LSE: VEC) has announced its unaudited interim results for the six months ended September 30, 2013, showing that revenues were flat at £177.0 million ($27.4 million) compared with the like, year-earlier period.
Pretax loss was £1.2 million for the first half, from a loss of £1.1 million in 2012, or 0.1 pence per share, versus 0.3 pence. Earnings before interest, tax, depreciation and amortization were £2.3 million, down from £2.6 million. The company noted that it has “robust” balance sheet with cash and cash equivalents of £65.5 million (£70.1 million at March 31, 2013)
Operational highlights
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