Ilika shares slump as FY loss widens, revenue loses power

Shares in Ilika fell almost 15% after the company posted a wider full-year pre-tax loss as it directed resources to developing its battery system, causing revenue to lose charge.

Nevertheless, chairman Mike Inglis said he was very encouraged to see the technical progress and increased commercial focus at the solid-state battery technology company.

"The definition of a clear solid state battery roadmap and the launch of the Stereax M250 have been important milestones on the road to commercial success," he added.

"Underpinning this product development has been a continued deployment of Ilika's high throughput platform on a focused portfolio of materials development opportunities."

Loss before tax was $3.8m, from £3.0m. Revenue was £0.61m, from £1.1m.

At 12:43 BST, shares in Ilika were down 13.9% to 45.2p.