Directa Plus Q1 revenues grow

(Sharecast News) - Graphene nanoplatelets producer Directa Plus said on Friday that first-quarter trading had been "robust".
Directa now expects first-quarter revenues to come in at roughly €1.52m, a more than 30% improvement year-on-year.

The AIM-listed group said the "significant improvement" was primarily driven by the strengthening performance of Setcar, the group's environmental division.

Directa's order book to date was in line with management expectations for 2020 with confirmed orders of €5.85m and on-going negotiations for other large contracts.

The firm will post its full-year results in mid-May and anticipates reporting a pre-tax loss of no more than €3.6m, in line with market expectations, and recognised revenues of approximately €3.0m.

Chief executive Giulio Cesareo said, "The strategy we are pursuing to gain traction and capture more value in our key vertical markets is succeeding.

"We hope that this will help insulate us from the worldwide economic uncertainty caused by the coronavirus."

As of 1005 GMT, Directa shares were up 8.46% at 66.70p.