Published on: April 19, 2022

FY21 trading update and notice of full-year results

HeiQ has released a trading update for FY21, along with an announcement that its full-year results will be published on Thursday 28 April. Strong sales growth in the Q4 period to end December 2021 has resulted in a higher-than-expected revenue figure for the year of $57.9m, albeit at a lower-than-expected gross margin of 47%. Around $1m of operating profit from the achieved Lycra milestone payment has been deferred to FY22, with FY21E operating profit expected to be c.$3.4m and net after tax income c.$2.7m.