Informing the market that expected sales have failed to materialise is never going to sit well with investors, and Nanoco (NANO) was duly punished for such an announcement. Shares in the innovative tech group fell 13 per cent after management made a substantial cut to full-year expectations.
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Chief executive Michael Edelman is disappointed not to report the group's first commercial sales in these half-year numbers - as opposed to simply licence and royalty income - but he's not concerned about the long term. "It's not a question of if, but when", he said.