Trading was positive with revenue up 20% to £3.6m. Gross profit increased 38% to £1.5m with the margin at 42% from 36% in H122a. The adjusted operating loss reduced by 57% to £0.6m. H1 performance was in-line with our expectations. The improved revenue performance was mainly due to increased d2w masterbatch revenue in the Middle East. Gross margin and losses were helped by lower raw material costs and managed efficiencies in the supply chain. Pleasingly, the reduction in distribution costs (3% o ....
