StockMarketWire.com - Advanced materials group Haydale said it expected full-year losses to deepen and revenue to fall short of expectations.

For the year ended 30 June 2018, revenues are expected 15% to 20% above the £3.0m revenue seen in the prior year but this would fall short of expectations, deepening losses, the company said.

The company cited numerous headwinds including a combination of timing differences of recognising revenue before the financial year end, longer than anticipated lead times by customers to reach commercial volumes and unfavourable currency movements.

'Whilst the Group has made strong operational progress in H2-2018, it has been disappointing in terms of the Group's sales, especially the longer than expected lead times for adoption by our customers of our graphene and SiC products,' said David Banks, Chairman of Haydale.

'We remain confident, however, that this is primarily a timing issue and that many of these expected forecast sales should now be recognised in FY-2019.' At 10:08am: [LON:HAYD] Haydale Graphene Industries Plc share price was -17.5p at 79p



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