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Savcor (ASX:SAV) narrows 1H loss to $1.6m

Savcor (ASX:SAV) narrows 1H loss to $1.6m

Industrial technology company Savcor (ASX:SAV) narrowed its 1H losses to $1.6 million from $2.3 million the year before.

Revenue grew to 7.1% to $54.2 million from $50.6 million, while ebitda grew 6.9% to $3.1 million.

Stronger performance in its FACE division – where ebitda grew by $1 million to $1.5 million – helped contribute to this growth, but this was offset by declines at Savcor ART.

The company said it was expecting improved business conditions for both these units in the second half.

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