Best of the Best PLC (LON:BOTB) lived up to its name with the shares – up 35% at 2,100p – London’s best performers after it raised profit expectations.
The online competitions runner saw revenue soar £22.1mln in the six months to the end of October from £7.6mln in the same period of 2019, while profit before tax leapt to £6.8mln from £1.38mln.
“Sales momentum since the period end has been encouraging, and we expect pre-tax profits for the full year to be materially ahead of management’s expectations,” said William Hindmarch, the chief executive officer of the company.
The ECHA has approved a volume threshold of 1 to 10 tonnes for graphene powder usage per annum for graphene products supplied by the Graphene REACH registration consortium, of which the company is a member.
The AIM-listed firm said the approval from the regulator represented a “major milestone” for the graphene industry and will enable members of the consortium to supply quantities of graphene materials in volume.