(Alliance News) - Applied Graphene Materials PLC on Wednesday reported a narrowed interim loss and said its year-to-date sales are 20% higher than the whole of the last financial year.
In the six months to January 31, the graphene materials maker's loss narrowed to GBP2.3 million from GBP2.4 million. Revenue edged higher to GBP35,000 from GBP26,000.
Year-to-date revenue is at GBP60,000, 20% higher than the whole of the previous financial year.
Chief Executive Officer Adrian Potts said: "I am pleased that AGM has continued to make good progress in converting customer engagement into product launches, with several applications launched in the period that are now available to retail as well as specialist industrial customers. Our progress continues to be underpinned by AGM's industry-leading know-how in graphene dispersion and application.
"We are closely monitoring the Covid-19 pandemic and we have taken the appropriate precautions to keep our employees safe. We intend to operate and support our client engagements as much as we can, whilst following governmental guidelines."
Shares in the company were 5.9% lower at 8.00 pence each in London on Wednesday morning.
By Eric Cunha; ericcunha@alliancenews.com
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