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Graphene-based products company Directa Plus reported narrower first-half losses as new business wins boosted revenue.
For the six months ended 30 June 2021, pre-tax losses narrowed to €1.1 million from €2.8 million as revenue increased by 41% to €3.95 million.
The improvement in performance was mainly driven by a EBITDA contribution from Setcar, the company's Romanian subsidiary within its environmental vertical.
'Setcar has developed business opportunities with large industry partners and Directa Plus' Grafysorber technology is rapidly gaining traction in the Oil & Gas industry,' the company said.
'The much improved financial figures are tangible proof of the progress the group is making in terms of market penetration, increasing collaborations and the strengthening of the awareness and adoption of Directa Plus's technology,' the company said.