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LONDON (Alliance News) - Haydale Graphene Industries PLC on Tuesday said its interim pretax loss widened due to higher research costs and financing expenses.
Haydale said its pretax loss for the six months to the end of December was GBP2.0 million, compared to GBP1.6 million a year earlier.
Total revenue for the group increased to GBP784,000 from GBP482,000 thanks to licensing income, but this was offset by higher research and development spending and costs related to a placing and open offer.
Haydale secured a collaboration deal with resin company Huntsman Advanced Materials in the half and secured a patent in Europe covering its plasma functionalisation process.
"The next 12 months will be an exciting time for the group as we anticipate driving material revenues to the group from the high levels of focussed investment we have made and continue to make," said Chief Executive Ray Gibbs.
Haydale shares were up 10% to 123.12 pence Tuesday.
By Sam Unsted; samunsted@alliancenews.com; @SamUAtAlliance
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