York maintains EPS versus last year

UK-based York Pharma has maintained flat figures for loss per share when comparing the six months ended March 31, 2008, with the same period 2007, despite falling deeper in to loss overall.

R&D expenses between the comparative periods were reduced to L1.3 million ($2.6 million) versus L1.7 million. This meant the company's operating loss increased to L4.4 million vs L3.1 million in the year-before period, a loss per share of 12 pence. Despite the increase in overall loss, the firm notes the figure is better than management expected.

For the first time, York became a revenue generating business with the acquisition of Derms Development last year (Marketletter October 15, 2007). The firm posted turnover of L2.2 million ($4.4 million) during the half-year, again exceeding expectations.