StockMarketWire.com - Specialty graphene material producer Applied Graphene reported a full-year loss as it continued incur expenses developing new products and commercial relationships.

Pre-tax losses for the year through July amounted to £3.7 million, compared to losses of £4.8 million year-on-year.

Revenue was a modest £83,000, up from £50,000, arising from the supply of production orders and evaluation quantities of graphene to commercial partners.

Applied Graphene said it had made 'excellent' commercial progress, with a number of major customer projects advancing towards completion and product launch.

'The impact of coronavirus has caused some delays to customer projects however, our development pipeline continues to grow,' the company said.

Chief executive Adrian Potts said the company had seen a slowing of customer volumes in our second half, though this was expected to rebound as restrictions were removed.

'We are starting to see graphene come of age,' Potts said.

'It is my firm belief that the means of realising the remarkable performance benefits that graphene nanoplatelets have to offer is in the successful integration of these materials into a range of host products to make them even better.'

'Understanding materials technology, dispersion chemistry and end-use application is critical to a successful outcome on a customer-by-customer basis.'


At 1:21pm: [LON:AGM] Applied Graphene Materials share price was -5p at 32.5p



Story provided by StockMarketWire.com