Versarien PLC - Cheltenham, England-based engineering materials company - Shares collapse by 24% to 3.80 pence each in London on Friday morning. Pretax loss for the six months ended on March 31 widens to £3.4 million from £2.2 million the previous year. Revenue falls to £2.6 million from £3.9 million, as loss before operations widens to £3.1 million from £1.9 million a year before.
Loss before interest, tax, depreciation and amortisation widens to £2.0 million from £300,000 the prior year.
‘The period under review was extremely challenging from a financial perspective, both from a balance sheet point of view and with the decline in graphene revenues reflecting the ending of the DSTL development contract,’ says Non-Executive Chair Diane Savory.
Current trading: 3.59 pence each, down 24% on Friday morning in London
12 month change: down 83%
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