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Cap-XX Ltd - Australia-based supercapacitors and energy management systems manufacturer - Reports total sales revenue for six months ended December 31 of AUD2.1 million, or GBP1.1 million, up 10% from AUD1.9 million in 2019, while product revenue is AUD1.7 million, up 26% from AUD1.4 million a year prior. Pretax loss widens to AUD1.2 million from AUD1.1 million loss in 2019, partially reflecting Murata project expenditure of AUD2.0 million.
Murata Manufacturing Co Ltd is a Japanese partner of Cap-XX, and the project is to transfer former Murata manufacturing assets to Cap-XX. Notes it is "confident" the commissioning of the Murata production lines will transform its revenue position, with a "consequential benefit to cash flow and the cash position of the company".
Says order book as at the end of January is double what it was a year ago, driven by internet of things markets.
"We are delighted with both the progress of the Murata project and the strength of the underlying business, against the unprecedented background resulting from Covid-19. We enter the second half of the year with a strong order book and rising enquiry levels as we raise production levels at our newly installed manufacturing facility," says Cap-XX Chief Executive Anthony Kongats.
Current stock price: 10.45 pence, down 1.9% on Thursday
Year-to-date change: down 21%
By Zoe Wickens; zoewickens@alliancenews.com
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