Preliminary Results 2016
Nanoco Group plc (LSE: NANO), a world leader in the development and manufacture of cadmium-free quantum dots and other nanomaterials, is pleased to announce its preliminary results for the year ended 31 July 2016.
- Transformed business model which should accelerate the commercialisation of our technology
- Sample requests have increased over the past few months for Dow’s TREVISTA™ cadmium-free quantum dots and are being fulfilled exclusively from Dow’s dedicated Cheonan plant
- Merck licence agreement signed in July 2016
- Well advanced in transferring our technology to Merck and we expect them to be running initial manufacturing trials in the near future
- Wah Hong licence agreement signed in July 2016; sampling to customers is underway
- Significant increase in manufacturing capacity following process improvements and efficiencies developed during the year, together with moving to shift work post year-end
- IP portfolio has grown to 467 patents and patents pending at year-end
- Future opportunities if life science continues to emerge
- Revenue for the year was £0.47 million (2015: £2.03 million) and the loss after tax was £10.61 million (2015: £8.97 million). Billings in July 2016 which are deferred into future years amounted to £1.18 million.
- Cash and cash on deposit at 31 July 2016 was £14.51 million (2015: £24.31 million)
Dr Christopher Richards, Nanoco’s Chairman, said: “I am encouraged that the significant progress made during the year, especially in new licensing agreements and manufacturing improvements, have put the Group in a strong position for rapid revenue growth. Combined with our solid cash position, we look forward to the future with confidence.”
Analyst meeting and webcast details
A meeting for analysts will be held at 10 am this morning, 11 October 2016, at the offices of Buchanan, 107 Cheapside, London EC2V 6DN. For further details, please contact Buchanan on 020 7466 5000.
To listen to a webcast of the analyst briefing, please log on to the following web address approximately 5 minutes before 10.00am on 11 October 2016: http://vm.buchanan.uk.com/2016/nanoco111016/registration.htm.
A recording of the webcast will be made available at Nanoco’s website, www.nanocogroup.com.
This announcement contains inside information.
For further information, please contact:
Michael Edelman, Chief Executive Officer
David Blain, Chief Financial Officer
Tel: +44 (0) 161 603 7900
Caroline Watson, Investor Relations Manager
Tel: + 44 (0) 7799 897357
Tel: +44 (0) 20 7418 8900
Mark Court / Sophie Cowles / Stephanie Watson
Tel: +44 (0) 20 7466 5000
Notes for editors:
About Nanoco Group plc
Nanoco is a world leader in the development and production of cadmium-free quantum dots and other nanomaterials for use in multiple applications including LCD displays, lighting, solar cells and bio-imaging. In the display market, Nanoco has a non-exclusive manufacturing and marketing licensing agreements with The Dow Chemical Company, Merck KGaA and Taiwan’s Wah Hong Industrial Corporation. Nanoco also has a strategy of direct sales in display and in its other target markets, including lighting.
Nanoco was founded in 2001 and is headquartered in Manchester, UK. It has production facilities in Runcorn, UK, and a US subsidiary, Nanoco Inc, based in Concord, MA. Nanoco also has business development executives in Japan, Korea and Taiwan. Its technology is protected worldwide by a large and growing patent estate.
Nanoco is listed on the main market of the London Stock Exchange and trades under the ticker symbol NANO. For further information please visit: www.nanocogroup.com.