StockMarketWire.com - Printing group Grafenia said Wednesday first-half losses widened as woes in its trade print business and a rise in input costs offset revenue growth.

For the six months ended 30 September, pre-tax losses widened to £4.44m, but revenues rose 23% to £8.31m.

The company blamed the wider losses on increasing costs, eroding margins and a tougher backdrop for its trade print business. 'Like the majority of printers, we've suffered from increased pricing on paper, our biggest raw material purchase,' the company said. The company said plans to launch Nettl of America would be a headwind to reported operating costs in the coming half-year and into the next fiscal year, but added that the opportunity was 'significant.'

At 8:33am: [LON:GRA] Grafenia share price was -1.5p at 9p



Story provided by StockMarketWire.com