Nicotine gum sales put Revolymer on high

SALES of nicotine gum in Canada have helped Flintshire-based domestic products company  Revolymer to a 62% increase in revenue to £594,000 in the first six months of 2015.

Gross profit for the period to June 30 was £12,000, a significant reduction on the first half of 2014’s figure of £139,000.
 
The fall was due to the prior period including a release of £157,000 of deferred sales relating to potential product returns deemed no longer necessary based on actual returns.

In its unaudited interim statement, the company said profit before the release improved by £30,000 compared to 2014.

Revolymer chief executive Dr Kevin Matthews said: “The business has continued to make commercial progress in the period, and also retains significant cash resources on hand to fund future developments.

“Accordingly we look forward to achieving further milestones as we pursue our focus on improving the functional performance of our customers’ products.”