10th May 2023 12:21
(Alliance News) - Directa Plus PLC on Wednesday said it entered 2023 in a "robust position" amid strong financial results for 2022.
The London-based graphene product maker said revenue for 2022 was EUR10.9 million, up 27% from EUR8.6 million in 2021. This was driven by "solid trading performance" in December, which saw a year-on-year increase of around 25%, as well as revenue growth in its environmental remediation and textiles services.
Pretax loss widened to EUR5.3 million from EUR3.4 million. Depreciation and amortisation costs were EUR1.4 million, down from EUR1.5 million a year prior, and other expenses increased to EUR4.4 million from EUR3.5 million in 2021.
Directa Plus did not declare a dividend for 2022, unchanged from the previous year.
Looking ahead, Directa Plus says its 2022 financial results have paved the way for the year ahead, placing the company in a "solid position."
Founder & Chief Executive Officer Giulio Cesareo said: "Our focus now is on developing our core verticals, which are able to generate significant product demand and higher recurring revenue from customers. With an expanding network of customers and partners, a record order book alongside a strong balance sheet, I am confident in the group's ability to deliver on its growth ambitions for the year ahead."
Shares were up 0.7% at 72.00 pence each in London on Wednesday midday.
By Sabrina Penty; Alliance News reporter
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