PROTEUS EXPECTS MODEST REVENUES

Proteus International of the UK announced a pretax loss of L6.6 million ($10.48 million) for the year ended March 31, 1994. The result was in line with the company's expectations due to higher expenditure as product development increases, it said.

Kevin Gilmore, executive chairman at Proteus, said "modest revenues are anticipated to commence during 1994/5, to increase during 1995/6 and to provide a base for substantial expansion in 1996/7. With all programs on or ahead of schedule, I am more confident than ever of the group's progress and the potential which is now nearing fruition."

Proteus expects to see some commericalization programs come into effect in the second half of the current financial year, some of which are planned to be linked to product commercialization.