Vectura Group plc (VEC.L), a developer of inhaled therapies primarily for the treatment of respiratory diseases, Tuesday in its preliminary results, reported a pre-tax loss of 10.4 million pounds for the full year, narrower than 13.2 million pounds loss recorded last year.
In a separate statement, the company said its Chief Financial Officer and Company Secretary Anne Hyland would step down at the end of June. It has appointed the present financial controller Paul Oliver as the new CFO and Company Secretary effective July 1. Paul joined Vectura in 2006 and has managed Vectura's finances for the last seven years.
For the year, Vectura reported an after-tax loss of 5.9 million pounds, wider than 4.4 million pounds loss reported previous year. On a per share basis, loss was 1.8 pence per share, compared with 1.3 pence per share last year.
At EBITDA level, loss improved to 3.4 million pounds, from prior year's 4.2 million pounds.
The group said that the revenues were slightly ahead of expectations at 30.5 million pounds, although it decreased from prior year's 33 million pounds.
For comments and feedback: editorial@rttnews.com