Ilika Says Making Good Progress In Securing Commercial Orders, Grants

LONDON (Alliance News) - Ilika PLC Tuesday said it has made good progress in securing commercial orders and grants since it published its full year results in July.

Ahead of its annual general meeting, the energy-and-electronics company said that it is trading in line with management expectations, and at the end of July gained two contract renewals with existing customers in Japan, and a grant award from Technology Strategy Board.

It said that that the two contract renewals, alongside existing contracts, increased the company's level of committed revenues for the current financial year to more than double the level of committed revenue achieved at the same point in the previous financial year.

The company, Monday said that it had acquired two new blue-chip customers in Germany as a result of its increased business development efforts in Europe.

Ilika shares were up 3.3% or 0.80 pence mid morning Tuesday, trading at 24.80 pence per share.

By Rowena Harris-Doughty; rowenaharrisdoughty@alliancenews.com; @rharrisdoughty

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Ilika Plc