Versarien plc is an advanced engineering materials group. Leveraging proprietary technology, the Group creates innovative engineering solutions for its clients in a diverse range of industries. Versarien has five subsidiaries operating under two divisions: Graphene and Plastics : 2-DTech Ltd, which specialises in the supply, characterisation and early stage development of graphene products. ACC Cyroma Ltd, which specialises in the supply of vacuum-formed and injection-moulded products to the automotive, construction, utilities and retail industry sectors. Using Versarien's existing graphene manufacturing capabilities, AAC will have the ability to produce graphene-enhanced plastic products. Cambridge Graphene Ltd, which supplies novel inks based on graphene and related materials, using patented processes and develops graphene materials technology for licensing to manufacturers. Thermal and Hard Wear Products:- Versarien Technologies Ltd. which owns the exclusive rights to a patent-protected additive process for creating advanced micro-porous metals targeting the thermal management industry and manufactures extruded aluminium heat sinks for the electronics and computing industries. Total Carbide Ltd, a leading manufacturer in sintered tungsten carbide.



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Interim Results
RNS
RNS Number : 5975J
Versarien PLC
06 December 2018


6 December 2018



Versarien plc

Interim Results


Versarien plc (AIM: VRS) ("Versarien", the "Company" or the "Group"), the advanced engineering materials group, is pleased to announce its interim results for the six months ended 30 September 2018.

Financial Highlights

· Group revenues increased by 19% to £5.22 million (H1 2017: £4.38 million)
· LBITDA* reduced by 16% to £0.36 million (H1 2017: £0.43 million)
· Loss before tax remained stable at £0.78 million (H1 2017: £0.77 million) after increased investment in the graphene businesses
· Cash of £6.07 million at 30 September 2018 (30 September 2017: £0.35 million) following successful fund raising of £5.15 million gross in September 2018
· Net assets increased to £12.32 million (30 September 2017: £5.72 million)

*LBITDA (Loss Before Interest, Tax, Depreciation and Amortisation) excludes exceptional items and share-based payment charges

Operational Highlights


· Nine collaboration agreements signed in the period with many other parties at varying stages of testing
· Graphene quality assurance team strengthened with two key appointments both of whom are at the forefront of developing the international standards that will define graphene and other nanomaterials
· Overseas expansion team strengthened by the appointment of two secondees from the Department of International Trade
· Continued investment in graphene manufacturing capability
· Mature businesses showing continued improvement in financial performance


Post Period Highlights

· In October 2018, Versarien completed its acquisition of 62% of the Spanish company Gnanomat S.L. for £2,647,000, settled by £673,000 in cash, and the issue of 1,316,275 new ordinary shares at an agreed price of 150p per New Ordinary Share. Gnanomat S.L. specialises in incorporating graphene into supercapacitors
· After gaining Federal Aviation Administration (FAA) certification, Versarien has received its first order for 1kg of its graphene nano platelets for use in fire retardant aircraft interior parts for a major global airline, with further orders anticipated
· Memorandum of Understanding signed with Tungshu Optoelectronic Technology Ltd, one of the world's leading suppliers of optoelectronic display materials
· Memorandum of Understanding signed with Jinan High-tech Financial Investment Co., Ltd to establish a manufacturing centre in the Jinan Innovation Zone, Shandong Province, China
· Jinan High Tech Investment Fund panel of experts determine the graphene technology of Versarien to have certain world leading properties
· New graphene enhanced polymer compound product launched, branded Polygrene
· Memorandum of Understanding signed with CTCE, a subsidiary of China Railway Group Limited
· AECOM place first order for compounded material as part of infrastructure project

not much to excite in those numbers then

Interim results

Its the future for me.

Neill Ricketts
‏


@neillricketts
4h
4 hours ago


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Shareprice marked down as some were expecting bad results and definitely not expecting an announcement of the commercialisation of graphene in construction, just a game let's hope they played their hand right

You need a hug Dil. :-))

I know what Dil needs...and ain't a hug -):

lol I don't want to know.

Versarien plc (LON: VRS) CEO Neill Ricketts talks to DirectorsTalk about its interim results for the six months ended 30 September 2018. Neill talks us through the highlights, explains what is driving revenue, updates us on its relationships, post period progress and what we can expect to see in 2019.



Why more companies want to get involved

he's good at the talk talk, but not so hot on paying attention to the business

Todays podcast

Joining us today is Neil Ricketts, CEO of Versarien, speaking to my colleague Abraham about the company’s new graphene project.

Have you emigrated ? lol

currently on biz in dubai but back tomorrow evening

...Shame -):

i agree .... the weather at this time of year in dubai is delightful - say 25/30 - with low humidity

All well and good but you can’t beat that good old traditional English weather I say, can’t stand the heat but as you say much better when it’s a dry heat.

Safe journey home as there’s rioting in Europe you know 😃

i'm already back at the office!

What on a Sunday? That’s double time then thank you very much.

He means the wine cellar. lol

Oh yeah I forgot how silly of me -: