CAP-XX product revenues improve
By Iain Gilbert
Date: Friday 03 Nov 2023
(Sharecast News) - Supercapacitors manufacturer CAP-XX said on Friday that product revenues had continued to improve in the four months ended 30 October.
CAP-XX said preliminary product revenue for October was $400,000, while preliminary product revenue for the four-month stretch was $900,000 - up around 35% from $700,000 in the previous corresponding period of last year.
The AIM-listed firm highlighted said October was typically "one of the highest revenue months" and said the revenue result was an "early indicator" that overstocking and supply chain issues that were seen in 2023 were starting to show signs of recovery.
CAP-XX has a current order backlog of $1.5m and noted that its order intake was "supportive of a further improvement" in revenues. Enquiries and orders from Europe and the USA were higher, but the company experienced "some slower order intake" from China and India.
Looking forward, CAP-XX said: "We expect to see the new distribution and sales strategy begin to demonstrate positive results in the coming months. We are seeing product revenues improving and, barring a general economic downturn, we expect this to continue.
"Finally, the company is keenly looking forward to the initial revenues from new products in which the company has made significant investments over recent years."
As of 0915 GMT, CAP-XX shares were up 7.43% at 0.94p.
Reporting by Iain Gilbert at Sharecast.com
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