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10 months ago
BRIEF-Nanoco Group updates on revenue recognition of licence agreements
October 7, 2016 / 6:16 AM / 10 months ago

BRIEF-Nanoco Group updates on revenue recognition of licence agreements

1 Min Read

Oct 7 (Reuters) - Nanoco Group Plc :

* Accounts for fy expected to include revenue of £0.4 million, other income of £0.3 million, £1.2 million in deferred revenue on balance sheet as at 31 july 2016

* Expected that £0.7 million will be released over following six years ending 31 july 2023

* Announces following update on timing of revenue recognition of licence agreements signed in july 2016

* Expected that £0.5 million will be released to revenue in year ending 31 july 2017

* Company's cash position is unaffected by these changes in accounting treatment

* Says £0.7 million will be released over following six years ending 31 july 2023 Source text for Eikon: Further company coverage: (Bengaluru Newsroom: +91 80 6749 1136)

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