Nanoco Group - Year of steady progress

Nanoco made progress against its stated objectives during FY21. It delivered all the technical milestones for its major European customer, won a new Asian chemicals customer for novel materials in sensing applications and extended its product and customer portfolio of nanomaterials for use in infrared sensing applications to five customers and eight different materials. It also made good progress in its legal action against Samsung for wilful infringement of its IP, with a positive outcome of the claim construction (Markman) hearing. We place our estimates under review while we adjust costs in line with recent management guidance.