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Pursuit Dynamics 1st Half Loss Widens To GBP7.8 Million, Accelerates Review

LONDON -(Dow Jones)- Pursuit Dynamics PLC (PDX.LN), the developer of PDX Atomiser and PDX Reactor products and technology, reported a slightly widened pretax loss for the first half of the year, and said that it has accelerated its strategic review of the business in the light of Procter & Gamble's (PG) decision of not entering into licensing talks with the company. MAIN FACTS: -Revenue for the six months to March 31 GBP483,771 (2011: GBP104,700). -Pretax loss GBP7.8 million (2011: loss GBP7.2 million). -Diluted loss per share 10.21 pence (2011: 10.21 pence). -Cash and cash equivalents GBP9.1 million (2011: GBP4.3 million). -Full year revenue will be materially below the company's earlier views primarily due to Procter & Gamble's decision. -Accelerated a strategic review of the business to allow an update to be provided by the end of June. -Review is examining all options to accelerate the existing lines of business, addressing immediate internal cost saving opportunities and proactively explore external solutions. -Shares at 0727 GMT up 3 pence, or 30%, at 13 pence. -By Tapan Panchal, Dow Jones Newswires. Tel +44(0)207-842 9448, tapan.panchal@dowjones.com Order free Annual Report for Pursuit Dynamics Plc Visit http://djnweurope.ar.wilink.com/?ticker=GB0030310964 or call +44 (0)208 391 6028 Order free Annual Report for Procter & Gamble Co. Visit http://djnweurope.ar.wilink.com/?ticker=US7427181091 or call +44 (0)208 391 6028

Stock News for Procter Gamble (PG)
DateTimeHeadline
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