Niox (formerly Circassia) has delivered a strong set of interim results, which has continued into H2. Revenues in July and August increased by a strong +25% and trading is in line with already upgraded EBITDA expectations. Cash reserves continue to build and we increase further our Y/E cash assumptions by £3m, reflecting lower than expected legacy rebate payments. The board is seeking approval to create distributable reserves to facilitate potential returns to shareholders in due course. We reit ....
