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Applied Graphene sees revenues tick up as product list grows

Several products were launched in 2019 using the group’s graphene dispersion technology

Applied Graphene Materials PLC - Applied Graphene revenues tick up as product list grows
Halfords is stocking the anti-rust primer under its own brand

Applied Graphene Materials PLC (LON:AGM) 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 PLC (LON:HFDS) started to stock in October.

WATCH: Applied Graphene Materials focusing on new product launches and commercial momentum

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

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.

Quick facts: Applied Graphene Materials PLC

Price: 34.5 GBX

Market: AIM
Market Cap: £17.13 m

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