Windar Photonics PLC Trading Update (8458S)
08 Noviembre 2019 - 7:50AM
UK Regulatory
TIDMWPHO
RNS Number : 8458S
Windar Photonics PLC
08 November 2019
8 November 2019
The information contained within this announcement is deemed to
constitute inside information as stipulated under the Market Abuse
Regulations (EU) No. 596/2014. Upon the publication of this
announcement, this inside information is now considered to be in
the public domain.
Windar Photonics plc
("Windar", the "Company" or the "Group")
Trading update
Windar Photonics plc (AIM:WPHO), the technology group that has
developed a cost efficient and innovative LiDAR wind sensor for use
on electricity generating wind turbines, announces that further to
its interim results for the six months ended 30 June 2019, trading
conditions have remained challenging with the conversion of the
sales pipeline into confirmed orders being particularly slow.
Accordingly, unaudited revenues for the 10 months ended 31 October
2019 were approximately EUR1.2 million.
Whilst the Group has a pipeline of potential near term orders
and projects with sales value in excess of EUR3.0 million, there
can be no guarantee that these orders will be placed in time for
delivery in the current financial year. Accordingly, the Group's
financial results for the year ending 31 December 2019 are now
expected to be below market expectations.
Cash held (excluding restricted cash) at 31 October 2019
amounted to approximately EUR170k (30 June 2019: EUR0.3 million)
but working capital is constrained. The Board is reviewing the
Group's working capital requirements and headroom and will provide
further updates as required and as appropriate.
For further information:
Windar Photonics plc Jørgen Korsgaard Jensen, CEO +4524234930
Cantor Fitzgerald Europe David Foreman (Corporate Finance)
Nominated Adviser and Broker Keith Dowsing (Sales) +44 (0)20 7894 7000
Elisabeth Cowell
Newgate Communications Adam Lloyd
Financial PR Tom Carnegie +44 (0)20 7680 6550
The person responsible for arranging the release of this
announcement on behalf of Windar is Jørgen Korsgaard Jensen.
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
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