4th Dec 2019 10:54
(Alliance News) - Solid-state battery firm Ilika PLC on Wednesday guided for significant revenue growth, helping it reduce losses.
Trading in the six months to October has met expectations, Ilika said, with revenue rising 50% to GBP1.5 million. This has helped the loss before interest, tax, depreciation and amortisation narrow to GBP1.0 million from GBP1.3 million year-on-year.
During the period, Ilika said it continued to develop its thin-film miniature Stereax batteries for wireless sensors, as well as Goliath batteries for electric vehicles.
"Ilika's ability to act in an agile, speedy manner has been demonstrated by the short time it has taken us to design, outfit and commission our new facility for solid-state large format cells over the summer," said Chief Executive Graeme Purdy.
"Our continued commercial progress is a promising reflection of the large pipeline of opportunities we have for both miniature Stereax and Goliath."
Ilika shares were 1.0% higher on Wednesday morning in London at 29.30 pence each. It will announce interim results on January 23.
By George Collard; [email protected]
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