IN BRIEF: Versarien loss widens on one-off charges, revenue decline lse.co.uk - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from lse.co.uk Daily Mail and Mail on Sunday newspapers.
Versarien Interim Loss Widens But Excited To Start Sale Of Face Masks
Thu, 21st Jan 2021 12:19
(Alliance News) - Versarien PLC on Thursday reported a widened first-half loss as the pandemic hurt sales from both of its businesses.
Shares in the advanced engineering materials firm were down 11% in London on Thursday at 57.40 pence each.
In the six months to September 30, Versarien s pretax loss widened to GBP4.3 million from GBP2.1 million.
Revenue slipped to GBP3.1 million from GBP4.4 million. The firm blamed the pandemic for hurting sales in both of its mature businesses.
Graphene & Plastic Products revenue fell 11% to GBP1.7 million from GBP1.9 million, while Hard Wear & Metallic Products revenue dropped 44% to GBP1.4 million from GBP2.5 million.