(Alliance News) - Directa Plus PLC on Monday said it expects its 2020 revenue to beat its own guidance and top market estimates, with the producer and supplier of graphene nanoplatelets benefiting from face mask sales.
Shares in the company jumped 10% to 88.00 pence each in London, giving the AIM-listed stock a market capitalisation of GBP53.8 million.
Directa now expects 2020 revenue of EUR6.5 million, which would be more than double the EUR2.6 million from 2019 and above consensus expectations. Back in December, Directa said it was confident of achieving revenue of EUR6.0 million in 2020, which also would have exceeded market estimates.
The company performed "strongly" in the final weeks of 2020, helped by sales of the G+ enhanced face mask, as well as progress in its 51% owned environmental remediation Setcar.
"To have finished 2020 with better revenues than expected even at the start of December is enormously satisfying. We saw a year of hard work, in difficult circumstances, by all of our employees culminate in this success," Directa Chief Executive Officer Giulio Cesareo said.
"Our acquisition of Setcar, in partnership with GSP group, continues to prove its value and the business has moved from strength to strength."
By Eric Cunha; ericcunha@alliancenews.com
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Directa Plus (DCTA)