Graphene specialist triples first quarter revenue to €1.52m

A London manufacturer has announced that it has tripled its revenue for the first quarter of the year.

Directa Plus, which produces and supplies graphene nanoplatelet products, reported expected revenue of €1.52m for the first quarter of 2020, up €1.02m from 2019’s €0.5m.

The company, which has headquarters in London and Lomazzo, Italy, said that the increase was primarily due to the performance of its environmental division, Setcar.

Ahead of the announcement of its full year results for 2019 in May, the firm said that it expects to report a loss before tax of less than €3.6m.

It also said that its revenue for the year was approximately €3m, up €0.75m from 2018’s €2.25m.

Giulio Cesareo, founder and CEO of Directa Plus, said, “The strategy we are pursuing to gain traction and capture more value in our key vertical markets is succeeding.

“We hope that this will help insulate us from the worldwide economic uncertainty caused by the coronavirus.”