Shares in Accsys Technologies (AXS) rose by more than 6 per cent after the wood treatment specialist revealed that total revenue in the first nine months of the year rose by 42 per cent. Production volume of the group's Accoya treated wood jumped by 43 per cent, and demand was strong enough to support a 5 per cent increase in prices.
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Crucially, the group's cash burn looks to be coming to an end, and chief executive Paul Clegg reckons that the company will be cash-flow positive during the final quarter of the year to March. Net cash balances stood at €7.1m (£5.3m) at the end of December, and are expected to hit around €8m by March.
