Versarien PLC - Cheltenham, England-based engineering materials company - Shares collapse by 24% to 3.80 pence each in London on Friday morning. Pretax loss for the six months ended on March 31 widens to GBP3.4 million from GBP2.2 million the previous year. Revenue falls to GBP2.6 million from GBP3.9 million, as loss before operations widens to GBP3.1 million from GBP1.9 million a year before.

Loss before interest, tax, depreciation and amortisation widens to GBP2.0 million from GBP300,000 the prior year.

"The period under review was extremely challenging from a financial perspective, both from a balance sheet point of view and with the decline in graphene revenues reflecting the ending of the DSTL development contract," says Non-Executive Chair Diane Savory.

Current trading: 3.59 pence each, down 24% on Friday morning in London

12 month change: down 83%

By Will Neill, Alliance News reporter

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