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Directa Plus shares kick on again after strong trading update

Trading so far in 2021 has been strong with the company also raising revenue guidance for fiscal 2020

Directa Plus PLC -
Directa Plus's face mask filter has been improved

Directa Plus PLC (LON:DCTA) shares headed 6.6% higher in early deals after the graphene nanoplatelets-based products specialist said trading has been strong this year.

Revenues in the first quarter of 2021 are expected to be some 20% higher year-on-year at roughly €1.8mln.

Turnover for 2020 is expected to clock in at around €6.7mln; the company had previously issued guidance for 2020 of €6.5mln for revenues.

The group’s order book stands at around €4.3mln and is expected to be delivered over the remainder of this year, while the order pipeline was described as “strong”.

In Thursday’s trading update, the company highlighted some developments in its relationship with NexTech, including a joint presentation the company made with NexTech on a roadshow aimed at potential industrial customers and universities in Italy.

READ Directa Plus signs agreements with NexTech Batteries for lithium-sulphur batteries

In addition, Directa and NexTech have now established a joint laboratory in Lomazzo, with the objective of developing new specific grades of G+ graphene nanoplatelets for the next generation of higher performance lithium-sulphur (Li-S) batteries. Scientists from both companies are participating in this development, Directa Plus said.

Meanwhile, progress at the group's environmental subsidiary, Setcar, continues to be very positive, the group said.

READ Directa Plus sees OMV Petrom contract extended and increased

As part of Setcar's contract with OMV Petrom, a total of some 7,700 cubic metres of emulsion have been treated so far in 2021, recovering roughly 1,800 tonnes of crude oil. With a treatment rate of about 80 cubic metres per day, the company expects to treat 8,800 cubic metres of emulsion and recover more than 2,000 tonnes of crude oil by the end of the first quarter of this year.

Setcar has a healthy and encouraging pipeline of contract tenders across Europe, including a number of high-value tenders, with two in the private oil and gas sector and another in a state infrastructure network.

Interest in the company’s shares have been gingered up by its face mask filter in recent months and the company revealed today that a new version of the filter has been developed that offers the wearer an increased level of protection from viral and bacterial infection.

READ Directa Plus raises guidance as face mask sales exceed expectations

Quick facts: Directa Plus PLC

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AIM:DCTA

Price: 129.25 GBX

Market Cap: £79.31 m

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