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Haydale Graphene says groundwork now in place for revenue growth

Haydale has been investing heavily in its Taiwanese operation following October’s £9.3mln fundraise
Blood in vial
Blood glucose monitors promise to be a major market for graphene -enhanced inks

Haydale Graphene Industries PLC (LON:HAYD) expects revenues over the next twelve months to rise following a period of investment and expansion.

Ray Gibbs, chief executive, said: “The next six to twelve months should be an exciting time for the group, which we believe now has the customer engagement, geographic reach, engineering solutions capability and product know-how to create material change in the group's future revenues."

WATCH: Haydale targeting Japan’s electronic printed inks market

Revenues rose by two-thirds over the past six months to £2.49mln with commercial/non-grant income 85% higher at £2.04mln.

Losses for the half year to December were up slightly at £2.74mln (£2.62mln).

Gibbs said Haydale had been investing heavily in its Taiwanese operation following October’s £9.3mln fundraise, formulating ink samples to potential customers' specifications for the US$15bn self-monitoring blood glucose market.  

“We are hopeful of securing several meaningful orders and supply agreements from this key strategic market and plan to move to a 10,000 sq. ft. facility by the end of this financial year, he added.

Haydale recently split its operations into two distinct divisions: Advance Materials and Resins, Polymers and Composites.

Since the half year, Advanced Materials has picked orders worth £500,000 and agreed to collaborate with Japanese group Graphene Platform to target Asia’s printed electronics market.

RPC, meanwhile, has won grant–funded contracts worth £600,000 and completed a second trial of its graphene-enhanced gas pipe for Flowtite. Results of this trial are expected by the end of June.

Cash was £8.0mln at the period end.

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