Revolymer sees revenue from nicotine chewing gum

REVOLYMER, the Deeside polymer company which is developing a number of consumer products, including chewing gum, has cut interim losses.

The business registered a loss of £2.8m for the six months to June 30, down from £4m last time.

But earnings were lower at £22,000, compared with £135,000 last year.

Revolymer said this was down to a decision to discontinue sales of its degradable chewing gum in the US. Most of the revenue came from a contract to supply a nicotine chewing gum to Canada.

The company, which was spun out of the University of Bristol now employs 30 staff in Deeside. Last year it raised £25m in a stock market flotation.

It is working on around 20 products in the household, personal care and coatings sectors.

Chief executive Dr Roger Pettman said: “The company remains committed to its previously stated strategy of focusing on developing and then licensing its portfolio of projects, funded by the significant net proceeds of our IPO last year.

“We continue to make progress in a number of parallel partnered projects in high value markets and believe that this will lead to the successful commercialisation of our polymer technologies in due course.”