Revenue rises, losses narrow in first half for CAP-XX

Supercapacitor and energy management technology company CAP-XX updated the market on its first half on Tuesday, reporting a 10% improvement in revenue to AUD 2.1m (£1.18m).

The AIM-traded firm said product sales for the six months ended 31 December totalled AUD 1.7m, 26% higher than a year earlier.

It said that improved performance was despite the “significant disruption” caused by the Covid-19 pandemic.

The company’s EBITDA loss, excluding the amortisation of employee share options, was expected to be about AUD 1m, including the Murata project expenses, widening from a loss of AUD 0.8m in the prior year period.

Its order book as at 31 January was more than 100% higher than at the same time last year.

“The company has made excellent progress at its newly constructed headquarters facility at Seven Hills, where supercapacitor production has moved into the commercial phase,” the board said in its statement.

“The facility is performing in line with management's expectations.

CAP-XX said it had continued to make progress in the pursuit of its various licencing and patent infringement cases.

“The board is also pleased to announce that CAP-XX is now an approved supplier to a global smartphone manufacturer, and separately has commenced the formal process to become an accredited supplier to a global automotive tier-1 component supplier.”

CAP-XX said it would announce its interim results for the six months on 31 December on 25 February.

At 1108 GMT, shares in CAP-XX were up 4.96% at 13.12p.