How it’s doing
In February, Haydale reported significant progress in its collaborations with international partners, though short-term revenues remain elusive.
Group revenue for the six months ended 31 December amounted to £1.35mln, down 17%, though it also reduced costs and reported that its adjusted operation loss narrowed by 22% to £2.1mln.
The company ended December with £2.7mln of cash.
What the boss says: Keith Broadbent
“We are making significant progress, in collaboration with a number of international partners, towards converting state of art science into everyday applications that will positively impact our customers’ businesses.
“Our proprietary technology and our exceptional ability to functionalise nanomaterials continues to give us confidence in the longer-term prospects of the group.”
- Haydale’s graphene nano-platelets have been incorporated into a cosmetic face mask recently launched by South Korean firm iCraft
- The company has won a deal with the English Institute for Sport (EIS) to produce high-performance kit coated with graphene
- More commercial orders
- US blanks business now up to commercial levels of production
What the broker says – Hardman & Co
In a note on 9 March, analysts at Hardman & Co said the “long-term risk/reward balance [for the compnay] remains favourable” and that Haydal was “well positioned competitively, with a proprietary nanomaterial functionalisation plasma process”.
“Commercial traction has now recovered, and the group has been financially de-risked”, they added.