Share Prices & Company Research

Market News

17 Oct 2018 | 10:32

CAP-XX losses widen as costs rise

Supercapacitors manufacturer Cap-xx said Wednesday pre-tax losses widened as rising costs weighed on margins.

For 12 months to 30 June 2018, pre-tax losses widened to A$2.62m from A$1.66m a year earlier while revenue rose 18% to A$4.9m.

The rise in revenues were offset by an uptick in costs from research and development targeted at product development, an increase in production capacity and the commissioning and streamlining of production processes.

Operational expenditure increased by 8% from A$5.0m to A$5.4m.

Products sales were up 19% on the previous year, supported by design wins and the penetration of new markets especially for internet of things applications, the company said.

The company signed its new non-exclusive licence agreement with the TDK Corporation of Japan.

'We are delighted to have successfully concluded our negotiations with TDK and anticipate closing further license opportunities during the current financial year, said Anthony Kongats, CEO of CAP-XX.

'With market interest in supercapacitors for a wide range of applications increasing, we are very encouraged by the widening of our licence portfolio and the increase in direct sales opportunities.'

At 10:32am: (LON:CPX) CAPXX Ltd share price was -0.75p at 11p

Story provided by StockMarketWire.com
Get in touch today
Join Redmayne Bentley
Talk to us now about opening a new account or transferring your account from another provider
0113 243 6941
Get in touch today
Contact your local office
Contact your local office to find out more
The value of your investments and the income from them may go down as well as up, and you could get back less than you invested.
We use cookies on this site to improve your experience and help us provide you with a better website. An explanation of the cookies we use and their purpose can be found within our Cookie Policy. Your continued use of this site means you consent to the use of cookies.