Advanced cleantech and biomedical materials developer Ilika says that first half revenues were 37% higher at £1.04m.
This figure includes grant income. Improved gross margins will lead to a reduction in operating loss in the six months to October 2011. There was £1.2m in the bank at the end of the half year with more cash coming in since then. New contracts will lead to an acceleration of revenue growth in the second half.
Ilika is expected to generate its first royalties from its hydrogen energy storage material early in the next financial year.
At 46p a share, up 2p, Ilika is valued at £16.8m.
The interims will be published on 10 January.
Edison forecasts a loss of £2.42m on revenues of £2.9m in the year to April 2012. There should be £914,000 left in the bank at the end of April 2012, although this could have run out a year later.
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