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(Alliance News) - Directa Plus PLC on Friday said it expects revenue to rise in 2022 due to a growing proportion of repeat customer business.
London-based Directa Plus is a graphene nanoplatelet products producer and supplier.
Directa Plus expects full-year revenue for 2022 to now be at least EUR10.0 million, up 16% from EUR8.6 million in 2021.
Directa Plus said it will enter 2023 with a "record" order book of EUR8.5 million, having secured a number of new customers and contracts during the period across all key verticals and markets.
The company has seen the fulfilment of a number of signed orders and contract award decisions postponed until 2023 due to supply chain issues across Europe. Directa Plus expects recognition of orders totalling EUR2 million to be deferred into 2023.
Specifically, in the Textiles division, Directa Plus has experienced delays in receiving customer-supplied materials for treatment with its Graphene Plus product. In the Environmental division, environmental permissions have been delayed by local authorities and have delayed expected tender awards, although Directa Plus said it is well positioned to win these tenders.
During the second half of 2022, Directa Plus said it continued its investment in next generation manufacturing equipment that will materially reduce direct production costs.
The company's underlying revenue growth in 2023 will return to at least 25% on a yearly basis, in line with previous periods, it predicted.
"The macro background remains challenging and, whilst it is frustrating that we have seen the fulfilment of a number of orders fall back into 2023, the company remains strongly positioned with building momentum in each of its verticals and will enter the new financial year with a record order book," Founder & Chief Executive Giulio Cesareo said.
Directa Plus shares were down 12% to 74.00 pence on Friday morning in London.
By Jaskeet Briah; jaskeetbriah@alliancenews.com
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