Applied Graphene Materials plc

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Applied Graphene sees revenues tick up as product list grows

06 April 2020

Proactive Investors wrote the below article which can also be viewed on their website

Applied Graphene Materials said its revenues this year have already exceeded the previous year by 20% as it reported interim results on Wednesday.

The group said several products were launched in 2019 using its graphene dispersion technology including an anti-rust paint primer in collaboration with JBL that Halfords started to stock in October.

Halfords graphene anti-corrosion primer

Alltimes Coatings' roofing coating system using graphene was introduced in August, while Blocksil launched a harsh environment anti-corrosion product in January, it added.

Advantage Graphene Blocksil graphene enhanced top coat MT

Applied Graphene said its revenues rose to £35,000 in the half-year to January and are up to £60,000 for the year-to-date.

The group's interim loss fell to £2.28mln from £2.37mln, while the company had cash of £4.3mln at the period-end, which it says is sufficient to carry it through to the fourth quarter of 2021.

The company said it is monitoring the coronavirus situation but as the group is at such an early stage of development it does not expect much impact on its cash forecast, with restrictions on travel likely to boost its liquidity position.

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