StockMarketWire.com - Battery company Ilika reported wider losses in the first half of the year as revenue fell and costs rose.

For the six months ended 31 October, pre-tax loss widened to £1.57m from £1.52m last year as revenue fell 33% to £1m.

Cost of sales rose to £782K in the half from 559K last year and the cash balance stood at £1.9m down from £5.8m a year earlier.

'The first half of this financial year has seen us increase the utilisation of the production capacity of our Stereax pilot line in response to commercial demand, positioning us for the scale-up of miniature battery production,' the company said.


At 9:20am: [LON:IKA] Ilika share price was -7p at 37.5p



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