The group recently sold its US recycling business, which has bolstered a year-end cash position of £4.1mln by an additional £3.6mln, he added.
“The fundamental pillars of the plan that we set out in last years' annual report have continued and, as a result, we are firmly on course to deliver a growth company with strong IP, a strong base of blue chip customers, a high-quality revenue stream and a high level of recurring earnings".
Net losses in 2017 rose to £6.3mln (£2.7mln) on revenues of £22.9mln (£25.4mln).
For 2018, the group has committed revenues of approximately £19mln, Jenks added.
“The period of consolidation and re-structuring is complete; in 2018 we expect to resume progress in both sales and profitability and look to the future of the group with confidence.”