Directa Plus PLC shares were up on Monday after it said revenue in 2022 is now expected to be at least €10.8 million, which is up from €10.0 million communicated back in December’s trading update.

Shares in the London-based company were up 11% to 88.00 pence each in London on Monday afternoon.

In December, the graphene nanoplatelet products producer and supplier said it expected revenue for 2022 to be at least €10.0 million, up 16% from €8.6 million in 2021.

On Monday, Directa said it now expects 2022 revenue to be at least €10.8 million, as a result of a ‘strong performance’ in December. It noted that its December performance represents around a 25% increase year-on-year.

The company added that momentum has continued into 2023 with current trading in line with market expectations, which Directa cites as revenue of €13.5 million for the year.

Directa’s current order book for delivery in 2023 now stands at around €8.8 million, giving the board confidence in its ‘continued growth in 2023.’

The company plans to announce its results for 2022 on May 10.

Founder & Chief Executive Giulio Cesareo said: ‘The company has entered FY23 in solid position, building on momentum from the end of the prior year. Our focus now is on developing our core verticals which are able to generate significant product demand and higher recurring revenue from customers. With an expanding network of customers and partners, a record order book and a strong balance sheet, I am confident in the group’s ability to deliver on its growth ambitions for the year ahead.’

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