Directa Plus expects to treble revenues in first quarter

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Graphene-based products maker Directa Plus said trading in the first quarter had been 'robust' with revenues now expected to more than treble compared with a year earlier.

Revenue was expected to be about €1.52m in the first quarter, up from €0.5m on-year, with €1m received in January and February and orders of €0.52m received in March.

The growth had been primarily driven by the strengthening performance of setcar, the company's environmental division.

The company said it would be announcing its 2019 results in mid-May and expected to report a pre-tax loss not exceeding €3.6m, in line with market expectations, on revenue of about €3.0m, up from €2.25m.