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Nanoco Group PLC - Manchester-based nanomaterial developer and manufacturer - Expects revenue of GBP2.4 million for the financial year ended July 31, "just over" 10% annually and in line with board expectations. Adjusted loss before interest, tax, depreciation and amortisation expected to reduce slightly ahead of expectations due to continued cost management. Cash amounts to GBP6.8 million as at July 31, representing an increase of GBP5.0 million since January 31. "This reflects the over-subscribed GBP5.4 million equity raise in June 2022 and good operating cash performance in [the second half of financial 2022]," it notes.
Chief Executive Brian Tenner says: "The combination of strong progress on the IP litigation and the underlying organic business is a robust platform to deliver significant value to all of our stakeholders in the short to medium term."
Current stock price: 46.55 pence, down 3.6% in London on Tuesday
12-month change: up significantly from 18.8 pence a year ago
By Xindi Wei; xindiwei@alliancenews.com
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