Income in the half year to December rose to £784,000 (£482,00), while losses were £2mln (£1,57mln).
Cash at the half year end totaled £5mln.
Ray Gibbs, chief executive, said the graphene specialist had made significant progress over the period, especially in enhanced composite materials where graphene is being used to improve the epoxy resin made by chemical giant Huntsman for its Araldite range.
“We have achieved an impressive 380% increase in thermal conductivity (essential for rapid heating and cooling of composites such as tooling), 70% increase in fracture toughness (impact resistance) and taking the resin from being electrically inert to conductive (used for anti-static requirements on electronic housings). “
Gibbs added that the company now had a complete supply chain in place for the delivery of graphene enhanced commercial composite products.
This included a number of unfunctionalised nano-material suppliers, the market leaders in supply of quality epoxy resins (Huntsman), the producer of the intermediate composite products known as prepregs (SHD Composites Limited), all of which are utilising Haydale's patented dispersion technology said Gibbs.
“The next 12 months will be an exciting time for the group as we anticipate driving material revenues to the group from the high levels of focused investment we have made.”