Equipmake Holdings PLC - Norfolk, England-based manufacturer and developer of electrification products for use across the automotive, aerospace, bus, coach and fire truck industries - Expects revenue to be about GBP5.1 million for the year ended on May 31, up 38% from GBP3.7 million the year before. Says commercial and production contracts represent 98% of total revenue, compared to 72% the year before. Pretax loss is expected to be GBP4.4 million, widened from GBP4.3 million. Looking ahead, says contracted order book stands at GBP5.5 million as of Monday, making it confident to meet market expectations for financial 2024. Full-year results to be released in September.

Chief Executive Officer Ian Foley says: "We came to the public market in July 2022 with a vision and plan to consolidate and grow our bus and coach electrification business. Fast forward one year, and we have systematically accomplished all our main areas of focus for this core business and have also broadened our investor opportunity by encompassing licensing revenues and accessing key, and strategically valuable, adjacent markets which are ripe for further growth."

Back in February, Equipmake reported revenue of GBP1.1 million for the six months that ended on November 30, down 52% from GBP2.3 million the year before. Pretax loss widened to GBP2.8 million from GBP1.6 million.

Current stock price: 9.50 pence per share

12-month change: up 68% from July 29, 2022

By Xindi Wei, Alliance News reporter

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