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Supercapacitors and energy management systems provider CAP-XX said revenue improved in the first half of the year on higher product sales despite 'significant' disruptions cause by the Covid-19 pandemic.
For the six months ended 31 December 2020, revenue rose 10% to A$2.1 million year-on-year as sales jumped 26% to A$1.7 million.
'The company has made excellent progress at its newly constructed headquarters facility at Seven Hills, where supercapacitor production has moved into the commercial phase,' CAP-XX said. 'The facility is performing in line with management's expectations.'
'The board is also pleased to announce that CAP-XX is now an approved supplier to a global smart phone manufacturer and separately has commenced the formal process to become an accredited supplier to a global automotive tier 1 component supplier,' it added.
CAP-XX said it would be announcing its interim results on 25 February 2021.