Less Ads, More Data, More Tools Register for FREE

Pin to quick picksHaydale Share News (HAYD)

Share Price Information for Haydale (HAYD)

London Stock Exchange
Share Price is delayed by 15 minutes
Get Live Data
Share Price: 0.385
Bid: 0.37
Ask: 0.40
Change: 0.00 (0.00%)
Spread: 0.03 (8.108%)
Open: 0.385
High: 0.385
Low: 0.385
Prev. Close: 0.385
HAYD Live PriceLast checked at -

Watchlists are a member only feature

Login to your account

Alerts are a premium feature

Login to your account

Haydale Graphene Loss Deepens Amid Impairments In Challenging Year

Tue, 15th Oct 2019 10:54

(Alliance News) - Haydale Graphene Industries PLC said Tuesday its annual loss deepened amid an impairment to its composite business in a "challenging" year for the firm, despite progress on streamlining and orders.

For the year ended June, pretax loss widened to GBP7.8 million from GBP6.0 million the year prior. This was despite revenue rising 2.9% to GBP3.5 million from GBP3.4 million the year before.

Profit performance was hurt by a GBP1.8 million impairment associated with Haydale's UK composites business. Despite the impairment, the company said it continues to believe the composites unit has a "good pipeline of opportunities."

"The year under review has been a challenging one for Haydale," Chair David Banks said.

"At management level, we have recruited a new executive team lead by Keith Broadbent, who was promoted from COO to CEO in March 2019, and Laura Redman-Thomas, who joined as our CFO in December 2018," Banks added.

"At an operational level, we have streamlined the business and rationalised our cost base, created a rigorous product and commodity analysis with subsequent clear focus, both inwardly and outwardly, introducing best manufacturing procedures and processes, created a group sales force and refinanced the business with the fundraising announced in March," Banks continued.

In March, the firm raised GBP5.8 million through a share placing and subscription.

In a separate announcement Tuesday, Haydale said its US ceramic blanks business secured an order worth USD700,000 with a potential USD600,000 order also possible from another customer.

The USD700,000 order for Haydale Ceramic Technologies LLC in the US comes from a US cutting tool maker, and follows a trial order of 33,000 ceramic blanks previously delivered by Haydale Ceramic.

Similarly, a Japanese cutting tool maker has committed in principle to buy 145,000 blanks with a value of around USD600,000. This order is expected to launch in April.

"Since production commenced in June this year, the team has worked closely with new and existing customers to ensure the product is of the highest quality," Haydale Ceramic CEO Tom Quantrille said. "We are now able to produce high quality sintered ceramic blanks in industry expected quantities."

Shares in Haydale were 5.1% lower at 1.07 pence in London on Tuesday.

By Ahren Lester; ahrenlester@alliancenews.com

Copyright 2019 Alliance News Limited. All Rights Reserved.

More News
18 May 2016 07:33

Haydale Graphene To Make Bulk Of Revenue From New Partnership

Read more
7 Apr 2016 16:11

Haydale, Dowton pen deal over new screen printable ink

(ShareCast News) - Haydale Graphene Industries was looking at a sizeable new market on Thursday, announcing a fresh agreement with Dowton Electronic Materials Company for the development, production, sales and marketing of a Haydale-branded graphene-enhanced screen printable ink aimed at the biomedi

Read more
7 Apr 2016 07:42

Haydale Signs Development And Supply Deal With Taiwan's Dowton

Read more
22 Mar 2016 11:55

Haydale Graphene Loss Widens But Confident In Outlook

Read more
16 Feb 2016 14:56

Research grants for Haydale graphene products

(ShareCast News) - A number of new graphene-enhanced products were on the cards at Haydale on Tuesday, with the awarding of a number of British government research grants to the firm totalling £350,000. The AIM-traded company, focused on enabling technology for the commercialisation of graphene and

Read more
4 Feb 2016 09:10

Haydale Graphene Launches Oil Pipeline Test Facility In Loughborough

Read more
3 Feb 2016 09:17

Haydale Graphene Buys Invention Under Swansea University Deal (ALLISS)

Read more
26 Nov 2015 16:08

AGM, EGM Calendar - Week Ahead

Read more
25 Nov 2015 09:35

Haydale Graphene Says Octopus Investments Takes 9% Stake (ALLISS)

Read more
17 Nov 2015 11:19

Haydale Graphene Industries Secures Patent In Australia

Read more
2 Nov 2015 13:19

UPDATE: Haydale Loss Widens, Raises GBP5.6 Million For Growth (ALLISS)

Read more
2 Nov 2015 10:16

Haydale Loss Widens On Costs But Raises GBP5.6 Million For Growth (ALLISS)

Read more
14 Oct 2015 10:41

Haydale Graphene Granted Patent By European Patent Office

Read more
1 Oct 2015 06:57

Haydale Graphene Industries Signs Resins Deal With Scott Bader

Read more
10 Sep 2015 07:34

LONDON MARKET OPEN: Morrisons Interims Sink Supermarket Shares

Read more

Login to your account

Don't have an account? Click here to register.

Quickpicks are a member only feature

Login to your account

Don't have an account? Click here to register.