Ilika losses narrow as turnover rises

Ilika posts a pre-tax loss of £1.7m for the six months to the end of October - down from £2.2m last time.

Turnover increased to £1.0m from £328,639 and gross profits rose to £473,088 from £108,538.

Chief executive Graeme Purdy said: 'In the first half of the year Ilika has delivered a series of Stereax development and deployment partnerships which are driving revenue growth and enhancing insight into the addressable sectors for its technology.

'The progress being made towards the commercialisation of Stereax technology is illustrated by the increased number of Stereax samples sent to a diverse range of potential OEM partners for evaluation.

'Ilika is well-positioned to generate value from its globally-recognised reputation for expertise in solid-state materials and battery technology and is seeing increased corporate interest consistent with greater activity in the global battery sector.'