Business
Full Year Trading Update and Outlook
Full Year Trading Update and Outlook.
About this update from Nanoco Group Plc
[{"type":"text","content":"\n \nRNS Number : 9556O Nanoco Group PLC 25 August 2017 \n\n \nNANOCO GROUP PLC\n(\"Nanoco\" or the \"Group\" or \"Company\") \n \nFull Year Trading Update and Outlook \n \nNanoco Group plc (LSE: NANO), the leading developer and manufacturer of cadmium-free quantum dots (\"CFQD\") and other nanomaterials, provides the following trading update ahead of its preliminary results for the year ended 31 July 2017.\n \nIt has been a significant year for the Group with solid advances towards the commercialisation of its technology. Unaudited revenues in the year and net cash at the year end were in line with the Board's expectations.\n \nHighlights in the year included: \n\n\n• The Group's first commercial orders - to supply CFQD resin to global manufacturer Wah Hong \n\n\n• New routes to market established for CFQDs in Display \n\n\n• TVs using Nanoco CFQD® Fine Color Film™ exhibited at CES in January 2017\n\n\n• Runcorn manufacturing facility became commercially viable\n\n\n• A growing pipeline of potential Display business\n\n\n• Progress in Life Sciences and Lighting markets\n\n\n \nDisplay Market\n \nThe market in Display for CFQDs continues to grow, driven by the increasing appetite for enhanced colour and brightness and the penetration of Ultra High Definition (\"UHD\") TVs. According to IHS forecasts, 26 million displays will be QD equipped by 2021, with more than 90% of the market cadmium-free. Samsung, with its recently launched QLED brand, is leading the field and sold more than three million QD displays in 2016. \n \nWhile other Display OEMs are embracing CFQD technology, adoption continues to be slow and protracted regulatory change to restrict the use of Cadmium has been unhelpful. However, the recently announced legislation in Europe, banning the use of Cadmium in Displays from October 2019, may be expected to accelerate the move to CFQDs. Several major Taiwanese and Chinese display and TV manufacturers are now actively seeking CFQD solutions, where Nanoco continues to have a competitive lead.\n \nCommercialisation\n \nNanoco's Runcorn manufacturing facility has been extensively enhanced - with costs substantially reduced - to enable...