Haydale Graphene falls on project delays, higher costs
21/06/2023 12:17
** Shares of materials group Haydale Graphene Industries Plc
HAYD.L down as much as 4.7% at 1.00p
** Co flags delay in a number of projects that were expected
to start during June; says projects will start in Q1 of the next
financial year
** Sees higher adjusted administrative costs due to
increased investment in operational capacity; however, expects
adjusted overheads to reduce next fiscal
** Says FY revenue expected to be ahead of market views, and
gross profit in line with analyst expectations
** However, warns of a slower-than-expected revenue build
for the year ended June 24
** Up to last close, stock down 40% YTD
(Reporting by Sinchita Mitra in Bengaluru)
((Sinchita.mitra@thomsonreuters.com))