Petards today reported its unaudited interim results for the six months ended 30 June 2023. Revenue was £4.4m, down 20% (1H22: £5.5m), with lower Defence revenues accounting for the majority of the decline. The good performance from QRO and RTS was offset by disappointing performance from Rail and Defence. The gross margin was 47.3% (1H22: 49.3%) due to higher materials costs at QRO. Administrative expenses were broadly unchanged at £2.6m (H1 2022: £2.6m). The post-tax loss was £301k (1H22: £101 ....