Versarien Plc (LON:VRS), the advanced engineering materials group, has announced its unaudited interim results for the six months ended 31 March 2024.
Financial Summary
● Group revenues of £2.50 million (2023: £2.62 million)
● Graphene revenues of £0.28 million (2023: £0.09 million)
● Grant income of £0.20 million (2023: £0.06 million)
● Adjusted LBITDA* of £0.79 million (2023: £2.01 million)
● Loss before tax of £1.77 million (2023: £3.40 million)
● Cash of £0.70 million as at 31 March 2024 (30 September 2023: £0.60 million)
*Adjusted LBITDA (Loss Before Interest, Tax, Depreciation and Amortisation) excludes Exceptional items and Share-based payment charges)
Operational Highlights
● Completed an agreement with MCK Tech (Korea) for the exclusive licence of five CVD patents