Velocity Composites said losses widened in its first year as a public company as it continued to invest its its growth.
The company booked a net loss of £0.70m, widening from a loss in 2016 of £0.27m.
"The ongoing investment into the growth of the business has resulted in a small net loss position," it said.
Revenue grew by 46% to £21.4m, while underlying operating profit nudged up to £0.9m, which the company said was in line with expectations.
At 9:19am: (LON:VEL) Velocity Composites Plc share price was -18.5p at 101.5p