UPDATE 1.40pm: Former market darling Matrix Composites and Engineering has reported a first half loss of $2.4 million on the back of a surging Australian dollar and costs and reduced output associated with the move from Malaga to its new plant in Henderson.

The bottom line figure represented a 114 per cent turnaround from the $17.5 million profit recorded in the previous corresponding period.

Normalised net profit after tax was down 45.2 per cent to $9.6 million.

The company said sales revenue of $83.5 million was 4.7 per cent below the previous corresponding period.

It attributed the lower result to reduced sales revenue, the costs of operating duplicate plants at Malaga and Henderson during its transition period, writes-off of plant and equipment at Malaga and commissioning costs at Henderson.

Matrix said its new Henderson facility was operating at only 50 per cent capacity at the end of December but was expected to reach nameplate capacity during the fourth quarter.

Matrix said it had a $700 million quote book, which was rising, and a $120 million order book.

The company noted continuing strong capital expenditure in the oil and gas sector, which together with increased production and improved margins, provided a positive outlook for 2013.

Matrix will pay a fully franked interim dividend of two-cents-a-share, down from three cents previously.

Shares in the company, which produces subsea floatation devices for the offshore oil and gas industry, closed down just three cents at $3.02 despite plunging more than 7 per cent to a low of $2.80 in earlier trade.

Matrix shares hit an all-time peak of $9.95 in March last year on positive sentiment about the company's growth prospects following its sharemarket debut in November 2009.