Ilika FY revenues slip, underlying losses widen

Solid-state battery manufacturer Ilika said on Monday that revenues slipped and underlying losses widened in the year ended 30 April.

Ilika expects to post full-year revenues of approximately £2.3m, down from £2.8m a year earlier, and a share-based payment adjusted underlying loss of £2.3m, a widening of the prior year's £2.1m loss.

Cash and equivalents at the period end were £9.8m, down from £14.8m.

Chief executive Graeme Purdy said: "The past year has been significant in advancing our strategy of commercialisation of our Stereax Ò batteries and development of our Goliath batteries. We look forward to sharing a full update with shareholders on 6 July."

As of 0910 BST, Ilika shares were down 4.49% at 147.20p.