14th Jan 2021 12:45
Ilika PLC - Romsey, England-based solid-state battery technology company - Reports GBP1.8 million pretax loss for the six months ended October 31, widened from a GBP1.6 million loss a year before. This results from a fall in revenue to GBP83,253 from GBP212,823 as well as a small dip in UK grants to GBP1.17 million from GBP1.25 million. October end cash balance much higher though at GBP12.4 million compared to GBP1.9 million the prior year, having raised GBP15.0 million in a share placing back in March.
Chief Executive Graeme Purdy: "Despite unprecedented disruption to the company's supply chain and operations in the first half of this financial year, we have continued to make strong progress with the implementation of our Stereax commercialisation plans.
"Although demand for Stereax is outstripping our current ability to supply from the pilot line, we are continuing to engage with customers to ensure we understand how demand can be extended, and ramped up further over the coming years. It has also been exciting to contribute to the relentless improvement in performance of our Goliath large format cells and to engage with the UK Battery Industrialisation Centre to plan their scale-up."
Current stock price: 203.75 pence; up 19% on Thursday
Year-to-date change: down 0.6%
By Anna Farley; [email protected]
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