Directa Plus reports 'strong' Q1 trading performance

Graphene nanoplatelets producer Directa Plus said on Thursday that first-quarter trading had been "strong", with revenues projected to show a marked improvement year-on-year.

Directa said revenues were pegged to be around €1.8m, up 20% on the same period in 2020.

The AIM-listed group, which now expects to announce its audited results for the 2020 full-year in mid-May, anticipates revenues of approximately €6.7m for the twelve months, a further improvement from the previously reported expectation of €6.5m.

Directa also highlighted that its current order book stood at approximately €4.3m, which was expected to be delivered over the rest of 2021, and stated there was "a strong pipeline of opportunities".

On an operational level, Directa said progress at its environmental subsidiary, Setcar, continued to be "very positive", while, over in the textiles vertical, the launch of the firm's new Capsule Cosmic Collection was said to have also been "successful". Dirt also point to further "positive developments" in its partnership with NexTech.

As of 0930 GMT, Directa shares were up 7.07% at 113.49p.