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Fuel Additive Firm Sulnox Reports 73% Rise in Q1 Sales Volume
The increase was driven by repeat and expanding sales to existing marine customers as well as new clients, the company said in an emailed update on Monday.
Revenue to the three months to June 30 rose by 53.8% to £804,600, from £522,600 a year earlier.
During the quarter, Sulnox signed its largest supply agreement to date, a four-year deal with Eastern Pacific Shipping (EPS) covering 1.2 million litres of Sulnox Eco.
The product helps to enhance bunker fuel efficiency, claiming it can deliver up to 5% of fuel savings.
Sulnox also raised £2 million during the quarter and ended June with an unaudited cash stability of £1.53 million.
The company said sales had continued strongly into the second quarter.
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