Haydale Graphene Industries shares jumped 44% to 0.0065p after the advanced materials and clean-technology group reported a 463% rise in revenue to £2.25 million for the six months to 31 March, up from £400,000 a year earlier, reflecting its first full quarter as an enlarged business following the acquisition of SaveMoneyCutCarbon. Gross profit climbed 325% to £850,000, though gross margin narrowed to 37.9% from 50.9% due to a revenue mix now weighted towards programme delivery, installation and services. The adjusted operating loss widened to £1.16 million from £680,000 as the company absorbed SMCC operating costs and invested in the enlarged structure. Net assets rose to £14.64 million from £1.3 million, including goodwill and intangible assets from the SMCC deal, and cash stood at £3.36 million following a January fundraise. Chief executive Simon Turek said the half marked a transition from restructuring into execution and highlighted post-period agreements including a multi-year water-efficiency deal with Wave Utilities and a national roll-out by Lloyds Banking Group.
Haydale Graphene IndustriesRevenue surged 463% and gross profit climbed 325% after acquisition, though operating loss widened.
Lloyds Banking Group PLC