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Nanoco Group PLC - Manchester-based nanomaterial developer and manufacturer - Expects revenue of £2.4 million for the financial year ended July 31, ‘just over’ 10% annually and in line with board expectations. Adjusted loss before interest, tax, depreciation and amortisation expected to reduce slightly ahead of expectations due to continued cost management. Cash amounts to £6.8 million as at July 31, representing an increase of £5.0 million since January 31. ‘This reflects the over-subscribed £5.4 million equity raise in June 2022 and good operating cash performance in [the second half of financial 2022],’ it notes.
Chief Executive Brian Tenner says: ‘The combination of strong progress on the IP litigation and the underlying organic business is a robust platform to deliver significant value to all of our stakeholders in the short to medium term.’
Current stock price: 46.55 pence, down 3.6% in London on Tuesday
12-month change: up significantly from 18.8 pence a year ago
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