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Equipmake Holdings PLC - UK manufacturer & developer of electrification products for electric vehicle drivetrains - Posts revenue of £1.1 million for the six months that ended on November 30, down 52% from £2.3 million the year before. Pretax loss widens to £2.8 million from £1.6 million, as administrative expenses jump to £3.0 million from £1.1 million the year before. Contracted order book stands at £9.1 million as of February 6. Looking ahead, Equipmake says it is trading in line with full-year expectations, with expected revenue in the second half of the current financial year fully contracted. Adds that full-year revenue is expected to meet current revenue forecasts.
Chief Executive Officer Ian Foley says: ‘Equipmake continues to go from strength to strength as momentum builds in our core bus repower and [electric vehicle] products businesses, and we continue to grow our presence in exciting adjacent markets such as aerospace. The strength of the commercial relationships we have built are leading to more repeat orders, as well as new partnerships.’
Equipmake had its initial public offering on July 29 with a market capitalisation of £35.0 million.
Current stock price: 6.93 pence each
Change since July IPO: up 19%
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