Global Bioenergies shares fell sharply on the Paris Bourse on Wednesday, the day after half-yearly results showed a reduction in losses, and investors seemed disappointed by the absence of any quantified forecasts.

The stock is currently losing almost 3% in heavy trading volumes, well above those of recent trading sessions.

The plant-based chemistry specialist announced last night that 'record' first-quarter sales had enabled it to reduce its net loss for the period to 4.1 million euros, compared with -5.8 million a year earlier.

The group thus generated sales of 3.1 million euros over the first six months of the year, compared with just 144.000 euros over the same period in 2022.

In order to meet orders placed by big names in the cosmetics industry, including L'Oréal, Global Bioenergies has delivered several tons of its Isonaturane 12 compound in the first half of 2023.

But the company points out that the production costs associated with outsourcing the activity remain very high, prompting it to focus all its efforts on building a larger-scale plant.

Global Bioenergies has announced that it will publish a schedule of the design and construction stages of the site by the end of the year, which should start operations at the end of 2027.

However, the company has not released any financial forecasts for this year.

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