Polynovo soars 10pc on revenue boom
Joshua Peach
Shares in Polynovo are soaring this afternoon, after the medical device developer reported an unexpected jump in revenue in August.
August revenue totalled $7.7 million, more than double its year-earlier revenue of $3.5 million.
Revenue from January-August jumped to $14.9 million from $7.7 million in the year-earlier period.
Chairman David Williams said the company’s future looked bright. “The increase in sales, albeit lumpy and off a low base, is at once breathtaking but at the same time more of the same of what we have seen in the last three years,” he said.
Polynovo’s shares last traded 10.3 per cent higher at $1.35.
Can AFR reporters not even get simple things right like its July - August not January. The smallest amount of common sense would have picked that up.
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