Ilika's annual loss widens as revenue slips

15th Jul 2013 10:30

Cleantech materials company Ilika widened its full-year losses as revenue declined by 46 per cent to 1.0m pounds.The group posted a loss before tax of £3.5m for the year to end of April, compared to a loss of £2.4m, reflecting delays with a number of potential contracts and the decision by Energizer to close one of its business units, which impacted its development collaboration.Loss per share remained unchanged at 0.07p while gross profit margin was up to 44.1% from the prior year's 43.9%.Cash, cash equivalents and bank deposits came to £1.9m, down from last year's £5.3m.Nevertheless, the company's Chairman, Jack Boyer, expects contracts which were delayed in 2013 will be converted or replaced in 2014."We believe that the company's portfolio approach and our strong relationships with existing development partners, ensures that we are well positioned to benefit from the commercial success of products and materials developed using our high throughput techniques," he said.He added that the development of solid state battery technology, co-developed with Toyota, for man-portable applications has progressed through the first phase of the programme in-line with expectations. The group has submitted a proposal to the US army for the funding of technology to full development.RD