Haydale Graphene warns profits will be 'at the lower end' of guidance
Haydale Graphene Industries
0.44p
16:55 18/04/24
Advanced materials group Haydale Graphene warned investors on Thursday that while its full-year results were anticipated to be within market expectations for the year ended 30 June, they would likely come in at the lower end.
Chemicals
9,327.90
17:14 18/04/24
FTSE AIM All-Share
745.29
16:54 18/04/24
Haydale said that, as predicted, it had been "a challenging few months" for the group as it worked to refocus resources and commence restructuring activities - resulting in "slightly higher costs than previously indicated".
The AIM-listed group also saw its cash position impacted by some timing differences, most notably the delayed receipts of R&D tax credits from HMRC.
However, following its fundraiser in March, Haydale said it continued to be "sufficiently funded".
Looking forward, Haydale said its new global sales team was set to help the group deliver commercial sales volumes with patented technologies according to plan and had it entering its current financial year with "a renewed focus and cautious optimism".
As of 0900 BST, Haydale shares had sunk 8.29% to 1.79p.