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.
FTSE AIM All-Share
745.62
17:04 20/09/24
Ilika
25.00p
16:55 20/09/24
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.