13th Mar 2020 11:53
(Alliance News) - Directa Plus PLC said Friday its 2020 first quarter trading has been "robust", and it expects revenue to triple in the period.
Shares Directa Plus were 8.0% higher in London on Friday at 66.40 pence each.
For the three months to March 31, the London-headquartered graphene-based products producer and supplier expects to report revenue of EUR1.5 million, compared to EUR500,000 in the first period in 2019.
"This significant improvement has been primarily driven by the strengthening performance of Setcar, our Environmental division," Directa Plus said.
The company's order book to date is in line with internal expectations, with confirmed orders of EUR5.9 million.
Turning to its 2019 results, Directa Plus expects to publish its annual report in mid-May, with a pretax loss not over EUR3.6 million - in line with market expectations. Revenue is expected at about EUR3.0 million.
In 2018, Directa Plus reported a pretax loss of EUR4.0 million on a revenue of EUR2.3 million.
Founder & Chief Executive Giulio Cesareo said: "The strategy we are pursuing to gain traction and capture more value in our key vertical markets is succeeding. We hope that this will help insulate us from the worldwide economic uncertainty caused by the coronavirus."
By Paul McGowan; [email protected]
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