Interims were largely pre-announced at the pre-close update. Production continues to steadily ramp up with Q1 technical issues resolved. Increased capacity, including the additional furnace, provides scope for stronger output in Q4. Management guides down FY23 revenues, with H2 now expected to reach breakeven with a profit generated in Q4. This results in a £2.0m increase in FY23 adj pre-tax loss to £4.7m. In FY24 we downgrade adj EPS by 29%. Our target price remains 120p, based on 15x the £150m ....