Haydale Graphene Industries has reported a widened pretax loss for the fiscal year of 2022, reflecting increased costs for sales, marketing, quality and production capability. Haydale's reported pretax loss was of GBP5.2 million ($5.9 million) for the year ended June 30, compared with a loss of GBP3.8 million (around $4.3 million) a year ago.
The Company's revenue totaled at GBP2.9 million ($3.3 million). This represents a robust performance given that fiscal 2021 revenue was mainly boosted by a pull forward of GBP1.2 million ($1.35 million) silicon carbide and a GBP400,000 ($451,000) one-time reactor sale, it added.
The company said adjusted administrative expenses - which strips out exceptional and other one-off items - increased by 17% to GBP5.52 million ($6.2 million).
"The solid progress made in our core business during the year continues to reinforce the directors' belief that, whilst navigating the new industrial landscape will remain challenging and forward momentum is unlikely to be smooth, the company is moving in the right direction," the company said.