Trackwise FY revenues and operating loss seen in line, names Paul Cook as CFO-designate
Printed circuit technology products provider Trackwise Designs said on Friday that it expects to report full-year revenues of approximately £8.08m and an adjusted operating loss of around £540,000, both in line with market expectations.
Trackwise Designs posted record IHT revenues of £1.43m, an increase of 140% year-on-year, with the number of engaged IHT customers increasing as the firm continued to grow opportunities across its primary target markets of electric vehicles, medical and aerospace.
The AIM-listed company noted that it had received first-half orders from a UK electric vehicle original equipment manufacturing customer that now totalled in excess of £3.5m and expects to receive further orders for the third and fourth quarters in due course.
Trackwise also said its new plant at Stonehouse had continued to progress in line with its recent fundraise announcement and remains on track to deliver the remainder of the agreed volumes with its UK EV OEM customer.
Elsewhere, Trackwise tapped Paul Cook to take over as chief financial officer, succeeding outgoing CFO Mark Hodgkins following the group's annual general meeting in June.
As of 0915 GMT, Trackwise shares were up 2.68% at 84.20p.