Haydale slashes losses as higher margins offset fall in revenue

Fri, 30th Oct 2020

Advanced materials group Haydale reported 43% narrower annual losses as a pandemic-led hit to revenue was offset by higher margins. For the year ended 30 June 2020, pre-tax losses widened by 43% to £4.41 million year-on-year as revenue slipped 15% to £2.95m. Gross profit margin was increased by 15% to 70% on reduced sales of lower margin products into the US fracking industry. Looking ahead, the company said the 'long-term outlook remains positive.' At 9:15am: (LON:HAYD) Haydale Graphene Industries Plc share price was -0.2p at 3.15p Story provided by StockMarketWire.com

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