March 22, 2018 / 7:09 AM / 7 months ago

IBA posts 39 mln euro FY net loss after 'challenging year'

March 22 (Reuters) - Ion Beam Applications posted a net loss for fiscal year 2017, as it concluded a “challenging year” after project delays and higher competition in the proton therapy market, the Belgian company said on Thursday.

The cancer diagnosis and therapy company said net loss stood at 39.2 million euros ($48.40 million) compared with a net profit of 24.4 million euros in 2016, while recurring operating result before interest and taxes (REBIT) turned to a loss of 11.6 million euros from a profit of 37.1 million euros.

IBA has taken a series of actions to streamline its business with a view to returning to profit in 2018, Chief Executive Olivier Legrain said. ($1 = 0.8100 euros) (Reporting by Manon Jacob; Editing by Biju Dwarakanath)

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