Graphene Nanochem PLC (fka GRPEF)

[jupp]

Financial Highlights

· Revenue up 103% to £20.4m (H1 2013: £10.1m)

· Gross profit/(loss) £0.1m (H1 2013 : (£0.8m))

· Loss before tax of £3.5m (H1 2013: £5.4 m)

· Cash and cash equivalents of £2.8m (FY 2013 : £7.4m)

· £23.8m of cash and working capital facility, in aggregate (FY 2013: £20.4m)


· While the Group looks ahead to an exciting 2015, there have been a series of delays in the deployment of the Plat Drill Series, due to both regulatory and testing constraints. Management now believes that these delays will result in revenue previously forecast to fall into FY2014 being partially recognised in FY2104 and FY2015, as a result management now anticipates making a loss for the year to 31 December 2014. The Company still remains optimistic for 2015 and beyond, however the latest delays mean that results to 31 December 2014 are now likely to be significantly below current market expectations.


www.investegate.co.uk/graphene-nanochem--grph-/rns/interim-results/201409300700439592S/