Versarien PLC - Cheltenham, England-based engineering materials company - Annual pretax loss narrows to GBP5.1 million in financial year ended March 31 from GBP8.1 million a year ago. Firm boosted by a defence science and technology laboratory contract "focussed on understanding the benefits that graphene-loaded materials may bring to defence applications with group revenues," CEO Neill Ricketts explains. Customer testing continues to prove successful showing increased interest from global companies, he adds. Revenue climbs to GBP7.6 million from GBP5.7 million a year ago. Cash grows to GBP3.1 million from GBP2.4 million.
Trading in current period "satisfactory" with Versarien focused on opportunities in construction and textile and leisure sectors, "where the potential graphene markets are significant," firm says. Versarien does not recommend a dividend in the foreseeable future, it says.
Current stock price: 14.96 pence, down 10% on Thursday
12-month change: down 55%
By Tom Budszus; tombudszus@alliancenews.com
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Versarien (VRS)