News blog

Ilika

• BY: Andrew Hore |
• POSTED: 18/09/2012 |

Materials technology developer Ilika is discontinuing its wound care products Myskin and Cryoskin in order to focus its financial resources on its core battery and fuel cell-related operations.

Ilika is expected to lose £2m in the year to April 2013 and it has to be careful to make its cash last as long as possible. The discontinued activities generated revenues of £160,000 last year but in July Ilika was talking about an international roll out. Ilika still has a small biomedical business. 

At 51p a share, Ilika is valued at £23.4m. Carbon Trust recently invested £149,000 at 55p a share in order to support the commercialisation of Ilika’s electro-catalysts for fuel cell vehicles. That was the same price as the £4.6m placing earlier in the year.

There was £5.3m in cash on the balance sheet at the end of April 2012 but this is expected to be reduced by more than £2m by next April.

Download the latest AIM Journal from http://www.hubinvest.com/AIMPDFSeptember2012_36.pdf