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Security screening technology provider Kromek reported wider losses on lower revenue and higher costs from the impact of the pandemic.
For the year ended 30 April 2020, pre-tax losses widened to £18.3 million from £1.3 million loss a year earlier as revenue fell to £13.1 million from £14.5 million.
The company recorded an exceptional loss due to the economic and operational impacts of COVID-19 of £13.1m.
The company said the impact of the pandemic had continued into the first four months of the new financial year.
'[T]he board is cautiously optimistic for the year ahead and will provide updates to the market as the outlook becomes clearer moving forward,' the company said.
At 9:58am: (LON:KMK) Kromek Group PLC share price was -2.13p at 8.25p