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IN BRIEF: Directa Plus Delighted With Setcar Performance

Wed, 14th Oct 2020 20:57

Directa Plus PLC - producer and supplier of graphene nanoplatelets - Notes 51%-owned environmental remediation business Setcar SA, which it acquired in November 2019, has delivered "significantly improved" results compared to previous years. This despite the headwinds caused by the Covid-19 pandemic. Sales from January 1 to October 1 increase to EUR3.0 million from EUR2.6 million. Has signed 132 new contracts since January 1. Contracted order book is expected to generate revenue of EUR4.0 million during 2021 and EUR3.0 million during 2022.

CEO Giulio Cesareo added: "We are delighted with the performance of Setcar. Since acquiring the company, our strategy has been to capture new high potential business opportunities leveraging on our patented Grafysorber technology and we are now working to expand Setcar's product offer with the addition of our other G+ products."

Current stock price: 72.0 pence

Year-to-date change: flat

By Paul McGowan; paulmcgowan@alliancenews.com