The Board of Haydale announces that the Group’s consolidated income statement is anticipated to be within market expectations, albeit at the lower end, for the year ended 30 June 2019.
As predicted, it has been a challenging few months refocusing resources and commencing restructuring activities which has resulted in slightly higher costs than previously indicated. The Group’s cash position was impacted by some timing differences, most notably the delayed receipts of R&D tax credits from HMRC. However, following the fundraise in March 2019, the Company continues to be sufficiently funded.
A new global sales team is now in place and the Group is set to deliver commercial sales volumes with patented technologies according to plan; and enters the current financial year with a renewed focus and cautious optimism.
The information contained within this announcement is deemed by the Group to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014