Nanoco: Reaching two key milestones in H222

Nanoco’s post-close trading update notes that the FY22 performance was broadly in line with management’s expectations. We therefore leave our estimates unchanged except for adjustments relating to the broker option element of the fund-raising programme in June, which was very significantly oversubscribed, and charges linked to the loan notes issued in July 2021.

FY22 trading broadly in line with expectations

Management notes that FY22 revenues will be £2.4m, in line with our estimates, and that adjusted LBITDA will be slightly ahead of their expectations because of successful cost management.

Nanoco Group PLC (LON:NANO) leads the world in the research, development and large-scale manufacture of heavy metal-free nanomaterials for use in displays, lighting, vertical farming, solar energy and bio-imaging.

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