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Advanced materials group Versarien booked a first-half loss after rising sales were more than offset by expenses.
Pre-tax losses for the six months through September amounted to £3.0 million, compared to year-on-year losses of £4.3 million.
Revenue rose 41% to £3.82 million. Cash at 30 September was £3.46 million.
'The first half of this financial year has seen continued progress in our pursuit of commercialisation whilst increasing both production capacity and our global footprint,' chief executive Neill Ricketts said.