Versarien PLC - Cheltenham-based advanced materials engineer - For the year ended March 31, pretax loss widens to GBP8.1 million from GBP4.7 million the year before, due to non-cash charges rising from the reduced value of the Lanstead Sharing Agreement, and a share-based payments charge.
This is on revenue which dropped 20% year-on-year to GBP6.6 million from GBP8.3 million, due to reduced sales of Hard Wear and Metallic Products.
"Despite the challenges arising from the pandemic, which not unexpectedly impacted our mature businesses, we have continued to focus on the commercialisation of our graphene technologies and in particular through the GSCALE project. I am pleased to report that the manufacturing scale up is advancing in tandem with the progress on commercialisation of the project's applications," says Chief Executive Officer Neill Ricketts.
Current stock price: 36.00 pence
Year-to-date change: down 14%
By Dayo Laniyan; dayolaniyan@alliancenews.com
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Versarien (VRS)