22nd Jan 2016 08:55
LONDON (Alliance News) - Windar Photonics PLC Friday expressed confidence in increasing revenue "substantially" in 2016, as it said it expects to report revenue within its previous guidance for 2015.
Windar Photonics provides lidar - or light detection and ranging - systems for wind turbines.
The company expects to report revenue of around EUR950,000 for 2015, down slightly from the EUR1.0 million it reported for 2014, as revenue growth was constrained by previously flagged delays in developing the Asian market.
However, Windar said it had been encouraged by sales levels in North America and Europe, and said that it remains confident that the "significant interest" shown by customers current testing its systems will enable it to increase revenue "substantially" in the coming year.
Windar had inked an exclusive distribution deal with Switzerland based LSAP Holdings AG primarily for the Chinese market, but has given notice to terminate this agreement, as it had not been able to achieve sales levels required under the deal. The company stressed that the Chinese market will remain one of its most important in 2016, and plans to address this market from its established offices in Beijing and Shanghai.
Shares in Windar were untraded Friday. They last closed at 93.00 pence.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
Copyright 2016 Alliance News Limited. All Rights Reserved.
Related Shares:
Windar Photo