StockMarketWire.com - Digital chemistry data group DeepMatter reported wider first-half losses as higher research and development costs offset a climb in revenue.

For the six months to 30 June 2021, pre-tax losses widened to £1.5 million from £1.2 million year-on-year, while revenue increased to £649,000 from £536,000.

R&D spend increased to £0.86 million from £0.32 million as the company continued to invest in enhancing products.

Looking ahead, the company said it expected to strengthen further and progress the sales pipeline in H2.

'DeepMatter will continue resourcing its R&D delivery to strengthen the offering, as well as maintaining tight control on costs,' it added.


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