(Sharecast News) - Printed circuit technology products provider Trackwise Designs said on Friday that it expects to report full-year revenues of approximately £8.08m and an adjusted operating loss of around £540,000, both in line with market expectations.
Trackwise Designs posted record IHT revenues of £1.43m, an increase of 140% year-on-year, with the number of engaged IHT customers increasing as the firm continued to grow opportunities across its primary target markets of electric vehicles, medical and aerospace.
The AIM-listed company noted that it had received first-half orders from a UK electric vehicle original equipment manufacturing customer that now totalled in excess of £3.5m and expects to receive further orders for the third and fourth quarters in due course.
Trackwise also said its new plant at Stonehouse had continued to progress in line with its recent fundraise announcement and remains on track to deliver the remainder of the agreed volumes with its UK EV OEM customer.
Elsewhere, Trackwise tapped Paul Cook to take over as chief financial officer, succeeding outgoing CFO Mark Hodgkins following the group's annual general meeting in June.
As of 0915 GMT, Trackwise shares were up 2.68% at 84.20p.
2 Aug 2023 14:18
IN BRIEF: Trackwise Designs appoints administrators from FRP Advisory
Trackwise Designs PLC - Tewkesbury, England-based manufacturer of products using printed circuit technology - Appoints Arvindar Jit Singh and Raj Mittal from Birmingham-based FRP Advisory Trading Ltd as joint administrators to the company. This comes after the company launched a sale process following an internal review last month following the severe fallout from a dispute with an unnamed UK electric vehicle original equipment manufacturer customer.
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