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0.265 -0.005 (-1.85%)

Bid:

0.25

Ask:

0.28

Spread: 0.03 (12.00%)

Market Cap: £15.36m

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Cap-XX First Half Meets Board Expectations; Makes Progress With Murata

Wed, 04th Mar 2020 12:25

(Alliance News) - Cap-XX Ltd said Wednesday interim performance was in line with internal expectations.

The supercapacitor manufacturer expects to report total sales revenue of AUD1.9 million, about GBP980,000, for the six months to December 31. Net cash is expected at AUD6.4 million.

For the six months to the end of 2018, Cap-XX posted a pretax loss of AUD1.6 million.

"The results are expected to be in line with the board's expectations, while good progress continues to be made on licensing and litigation related activities," Cap-XX said.

Cap-XX is scheduled to release interim results for the six months to December 31 on March 16.

The company also noted it has made "excellent" progress in transferring its former Murata manufacturing assets.

The first shipment occurred on schedule in March and the initial consideration has been paid to Murata, Cap-XX said, with the final shipments are expected to leave Murata in April.

The lease on Cap-XX's new Sydney manufacturing facility, where the assets will be installed, has been signed and recruitment of personnel has been largely completed, the company added.

"Overall, the project remains on schedule and within budget," Cap-XX said.

Shares in Cap-XX were 2.7% higher in London on Wednesday at 3.03 pence each.

By Paul McGowan; paulmcgowan@alliancenews.com