LONDON (ShareCast) - Accsys Technologies said half-year results were broadly in line with its business plan as losses widened due to an increase in administration costs.

Pre tax losses came in at €5m from a loss of €3.5m as admin expenses increased to €6.1m from €3.2m before, which was largely attributed to the expenses incurred from listing on Euronext.

Revenue for the half-year was €3.8m from nil in the same period last year.

The group said it has made good progress in scaling up the production processes at its own AccoyaTM production facility. Supplies of AccoyaTM are now being distributed across UK, Netherlands and Germany.

“Accsys has seen excellent progress in the year to date, with recent licensing activity significantly increasing revenue and the worlds first Accoya production facility being commissioned,” said the group.

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