Haydale Graphene warns on performance as coronavirus impact hurts demand

Thu, 16th Apr 2020

Haydale Graphene warned performance would fall short of expectations amid a general slowdown seen across a number of its markets, particularly in the US division where demand for its Silicon Carbide blanks had been hurt by the coronavirus-led hit to global aviation. 'The aerospace sector had responded to this sharp decline with the temporary suspension of production or reduced time working in many manufacturing facilities in the US,' the company said. 'Recently, the indefinite extension of some of these temporary closures has increased the level of business uncertainty in the US and has now made it likely, in the current environment, that the overall group will fall markedly short of its trading expectations.' The company said it was taking advantage of applicable national support schemes in both the UK and US and would continue to take the appropriate action to ensure that they protect the business during these unprecedented times. At 9:54am: (LON:HAYD) Haydale Graphene Industries Plc share price was -0.23p at 1.58p Story provided by StockMarketWire.com

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