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Future Bleak for Renovo Group Plc (RNVO.L) With No Workers or Products



5/31/2011 6:56:18 AM

Renovo has posted a profit for the half-year ended March 31 but the end appears nigh for the Manchester, UK-based biotech.

The firm says it is possible that all of its staff may be made redundant by the time June is out and all of its products are up for sale. Renovo posted operating profits of £3.7 million compared to a loss of over £7.9 million in the like, year-earlier period, while revenues leapt to £15.9 million from £5.2 million.




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