12th Nov 2013 13:27
LONDON (Alliance News) - Ilika PLC Tuesday reported higher revenues for first half of the year, boosted an increase in its active customer base and strong growth from its aerospace operations.
In a half-year trading update, the advance materials discovery company said that revenues rose 55% to GBP0.62 million in the six months to October 31, up from GBP0.4 million a year earlier, as it expanded its active customer base.
Ilika said that the geographical balance of revenues has now evened out due to a stronger business development performance in Europe.
It said that in the current year to date, 45% of revenues have come from Europe and 45% from Japan, compared with 70% of revenues coming from Japanese customers in the previous year. It said business development efforts in the US would drive an increased proportion from that country in the second half of the year.
The company said the aerospace sector has become the new growth driver for its technology platform, after it entered into an initial relationship with two large aerospace companies.
The company said that its has continued to make progress with developing and licensing its proprietary materials, and it is currently managing active original equipment manufacturer trials with two separate products from its portfolio.
It said its technology development activities remain focused on its solid-sate battery technology.
The company expects to release its interim results on January 29, 2014.
Ilika shares were trading 1.3% lower Tuesday midday at 23.70 pence per share.
By Rowena Harris-Doughty; [email protected]; @rharrisdoughty
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