Testing services provider Exova's revenue dragged by strong pound

Fri Aug 29, 2014 2:32am EDT

Related Topics

Aug 29 (Reuters) - Exova Group Plc, a material testing services provider, reported a 2.7 percent fall in first-half revenue, hit by an increase in the value of the pound.

The Edinburgh-based company, which provides laboratory-based testing, fire safety and calibration services, said revenue slipped to 134.7 million pounds ($223.4 million) in the six months ended June 30, from 138.4 million pounds a year earlier.

Excluding the impact of a stronger pound, underlying revenue rose 3.4 percent.

Exova posted a bigger pretax loss of 38.1 million pounds during the six-month period. Pretax loss was 10.3 million pounds a year earlier.

The company, which went public in April, names Airbus Group NV, Siemens AG and Rolls-Royce Holdings Plc among its clients. ($1 = 0.6031 British Pounds) (Reporting by Esha Vaish in Bangalore; Editing by Gopakumar Warrier)

Comments (0)
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.