Haydale (AIM: HAYD), the global advanced materials group, is pleased to announce its full year results for the year ended 30 June 2018.
- Sales to more than 50 customers for the Group’s graphene related products and services in the year, almost double that of the prior year;
- Signifcant advances in functionalisation capabilities achieved, increasing customer base; and
- Two SBUs established that have increased sales across the Group leading to a united approach to grow sales.
- Commercial revenues increased to £3.4 million (2017: £3.0 million);
- Income of more than £1.0 million from graphene related products and services (2017: £1.0 million)
- Revenues from Far East region starting to grow significantly, up to £0.3 million (2017: £0.1 million); and
- New market in paints and coatings for the Group’s SiC opened with sales to major US-based customer of £0.2 million in the year (2017: nil).
Post Period End Highlights:
- New $3.3 million, 5 year contract extension signed to supply the Group’s SiC;
- Contract with the English Institute of Sport secured to develop advanced wearables incorporating Haydale’s technologies for the 2020 Olympic and Paralympic Games, and
- Board strengthened with the appointment of David Banks as Interim Executive Chairman and Keith Broadbent as Chief Operating Officer.
Commenting on the results David Banks, Interim Executive Chairman of Haydale, said:
“Overall progress for the Group this year has been solid, albeit we are disappointed that we did not achieve the revenue growth we had anticipated and we now believe that we have made the necessary changes to address those issues.
There are significant growth opportunities with our new and adapted approach of using our global footprint as one team, with cross-selling and cross R&D focus combined with a re-orientation to organic growth and cost monitoring. Business development surrounding the major advances we have seen in our core skills on inks, functionalisation and dispersion of graphene, in conjunction with the new market segment for SiC, sets Haydale up for the next phase of evolution and scale up.”