- Ilika said it expected to start 2017-18 with a record level of revenue commitments amounting to around £1.8m.

The group said that since its last trading update in November, it had announced four significant commercial deals, which were resulting in a strong ramp-up of revenue relative to 2015-16 and which would continue to support revenue growth into 2017-18.

Chief executive Graeme Purdy said: "We are continuing to see a reinforcement of our customer relationships, with long-standing partnerships with companies like Toyota and Seagate being further cemented.

"It's also great to see the upturn in revenues relative to last year allowing us to start 2017-18 with such a strong order book.

"The number of potential licensees, their level of interest and the diversity of applications is giving us growing confidence in our licensing model."

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