Accsys losses widen

Accsys, the chemical technology group focused on the acetylation of wood, posts a pre-tax loss of €2.9m for the six months to the end of September - up from €0.1m last time.

Total revenue was €25.1mm - down from €26.3m - but Accoya revenues rose to €22.5m from €21.9m.

The group said demand for Accoya continues to grow with sales volumes increasing by 4% to 17,506 cu m and with growth accelerating into the second half of the financial year.

Chief executive Paul Clegg said: "In this financial period we have made further significant strategic and operational progress to increase our Accoya and Tricoya manufacturing capacity which will be transformational for the Group. The expansion of the Accoya plant in Arnhem and the formation of the Tricoya consortium are both fundamental for the future of the Company. Despite results being down on the previous half year, we remain confident of the results for the full year and beyond."