(Alliance News) - CAP-XX Ltd on Tuesday said it expects to report double-digit revenue growth in its current financial year despite coronavirus uncertainty.
The New South Wales, Australia-headquartered energy management systems manufacturer said it expects revenue for the year to the end of June to increase by 15% to AUD3.7 million compared to AUD3.2 million a year earlier.
CAP-XX noted that revenue in the second half of its current financial year has been affected by a delay in supercapacitor shipments, as some customers have delayed delivery dates due to Covid-19.
Adjusted loss before interest, tax, depreciation and amortisation for the year ending June 30 is expected to be AUD2.0 million versus a loss of AUD1.6 million the year before. This is due to the legal costs from the Ioxus patent infringement case.
Looking ahead, CAP-XX said its current sales order book for the underlying product lines is greater than twice the level at the same point last year.
The company said it had AUD4.4 million in cash as at May 8.
AIM-listed CAP-XX shares were trading 1.5% lower in London on Tuesday at 3.30 pence each.
By Evelina Grecenko; evelinagrecenko@alliancenews.com
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Cap-xx (CPX)