Versarien Plc (AIM:VRS), the advanced engineering materials group, today highlighted its final results for the year ended 31 March 2015.
Highlights
-- Group revenues up 69% to GBP4.98 million
(2014: GBP2.95 million)
-- Net assets up 180% to GBP7.3 million (2014:
GBP2.6 million)
-- Cash at 31 March 2015 of GBP3.5 million (2014:
GBP0.2 million)
-- *LBITDA of GBP277,000 (2014: GBP232,000)
-- Loss before tax GBP866,000 (2014: GBP653,000)
-- Total Carbide sales of GBP4.6m (2014: GBP2.9
million - 9 months)
-- Total Carbide EBITDAE rose to GBP1.12m (2014:
GBP0.47m - 9 months)
-- Acquisition of 2-D Tech Limited which has
achieved a breakthrough in the cost effective
manufacture of high quality graphene
-- First product range launch for Versarien
Technologies VCu copper foam
-- First Distribution deal for Versarien Technologies
VCu Copper foam
-- Acquisition of heat sink manufacturing business
out of administration for a total consideration
of GBP191,000
* LBITDA excludes exceptional items and share based payment charges.
Commenting on the final results, Neill Ricketts, Chief Executive Officer of Versarien, said: “We are clearly delivering on our stated strategy to identify, acquire, develop and commercialise disruptive intellectual property in advanced materials with the milestone of the first distribution agreement for Versarien technologies copper foam product. We have acquired 2-D Tech Limited, which has achieved a significant breakthrough in the cost effective manufacture of high quality graphene and have secured important relationships to accelerate the commercialisation of this business including a partnership agreement with the National Graphene Centre at the University of Manchester, the recognised home of graphene. We are also pleased to have delivered GBP1.12 million EBITDAE from Total Carbide in our first full year since admission to AIM demonstrating our ability to run and optimise our established companies and therefore believe Versarien has an exciting future as we continue to look for further opportunities to grow the business both organically and by acquisition.”
