27 September 2017 – interim results
The group has announced interim results for the six months to 30 June revealing a modest increase in revenues to £1.1m with a loss before tax of £15.1m being reported (2016: loss of ££7.0m). These figures are largely irrelevant given the stage of the group’s development and of more importance is the fact that at the end of the period it had cash of £16.2m (2016: £39.4m) with no debt. The group continues to invest in its research and development programme and is making solid progress towards commercialising its technology. There is considerable potential at the group for investors although significant risks remain. The shares are a SPECULATIVE BUY.