Sorbic International Plc. (SORB.L) announced its unaudited Interim Results for the six months period ended 31 March 2013. Profit attributable to equity holders of the parent was 357,905 pounds, compared to a loss of 143,526 pounds in the prior year period. Profit per share for the period was 0.65 pence, compared to a loss of 0.36 pence in the year ago period.
Profit before taxation for the period was 423,812 pounds, compared to a loss of 76,154 pounds in the prior year period.
Revenue for the period declined to 7.05 million pounds from last year's 8.29 million pounds.
John McLean, Non-Executive Chairman of Sorbic, said,"Demand for sorbates continues to outweigh supply and we are working to finalise proposals that will enable the Group to increase its production capability to meet more of these high levels of demand. The Board is currently exploring the opportunity for Sorbic in relation to a new potential production facility in Linyi, which has been proposed by the Linyi authorities, and will update shareholders once further progress is made on these negotiations."
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