North East technology firm Kromek has seen losses widen but insisted it was “looking to the future with confidence” after a number of revenue boosts.
Interim six month results for the County Durham radiation detection business showed that revenues rose 44% to £6.8m. In a separate announcement, Kromek also revealed that it had received £2.5m from Innovate UK to develop low-dose molecular breast imaging technology.
Despite the revenue rise and investment boost the NETPark firm’s EBITDA losses in the period grew from £600,000 in the same period last year to £2.7m, which it attributed to inflation-related costs and the impact of foreign exchange fluctuations.
