Oxford Catalysts Loss Widens, Revenue Down

British clean-fuel company Oxford Catalysts Group posted a wider full-year pretax loss, hurt by its decision to slow down activities on a government-funded program in the last quarter.

The funding for the program remains available and the work is expected to resume at planned levels in 2011 and 2012, the company said.
Revenue fell 11% to £7.7 million pounds. For the year to end-December, Oxford Catalysts posted a pretax loss of £8.1 million pounds, compared with a loss of £6.1 million pounds a year ago.

The company ended the year with £5.7 million pounds in cash and other financial assets.