StockMarketWire.com - Haydale Graphene Industries said it expected total income for the year ended 30 June to be in line with current market forecasts, which represented a doubling when compared with the prior year.

It said the board's decision to increase investment in a number of key areas during the year would result in the group reporting a marginally higher loss before tax for the full year than originally expected, although the final reported LBT was expected to reduce due to the inclusion of negative goodwill associated with Haydale's acquisition of Advanced Composite Materials Inc. in November 2016.

An update said: "The areas to have benefited from higher investment during the year include the set-up, fit out and recruitment of quality technical and sales staff at Haydale Technologies (Thailand) in Thailand plus the recruitment of executive management at the Group's USA operation.

"Haydale continues to invest in mixing, dispersion and processing methods for thermoset and thermoplastic resins and polymers.

"Cash as at 30 June 2017 stood at approximately £2.0 million (31 December 2016: £1.1 million).

"At the year end, the Group's order book, being product sales orders and consulting contracts to be fulfilled over the next 3.5 years, stood at approximately £5.4 million, which is at record levels for Haydale and provides good visibility on the Group's future income."




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