Windar’s FY15 results were in line with our forecasts, but lower than the expectations at the time of the IPO in March 2015 because of issues with the distributor in China, which is a key market. These issues appear to have been resolved and we expect renewed activity in China to lead to a ramp-up in sales, beginning in H216. The subscription and factoring arrangement announced in May 2016 remove the funding gap identified in our previous note.
13 Jun 2016
Chinese contract win points to future growth
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Chinese contract win points to future growth
Windar Photonics Plc (WPHO:LON) | 44.0 0 0.0% | Mkt Cap: 35.8m
- Published:
13 Jun 2016 -
Author:
Anne Margaret Crow -
Pages:
5
Windar’s FY15 results were in line with our forecasts, but lower than the expectations at the time of the IPO in March 2015 because of issues with the distributor in China, which is a key market. These issues appear to have been resolved and we expect renewed activity in China to lead to a ramp-up in sales, beginning in H216. The subscription and factoring arrangement announced in May 2016 remove the funding gap identified in our previous note.