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Graphene products maker Directa Plus reported wider annual losses as higher costs offset an increase in revenue.
For the year ended 31 March, pre-tax losses widened to €4.7 million from €3.4 million year-on-year as revenue increased revenue increased by 144% to €6.43 million.
The full year contribution from Set Setcar SA had a significant positive impact on revenue growth, the company said.
'Looking at another significant year on year growth in revenues we can now unequivocally state that the strategy is working. The R&D work we undertook in environmental remediation has directly led to the successes Setcar is enjoying today,' the company said.
'With significant tender decisions concerning multi-million euro contracts due in the summer of 2021 the potential for continued rapid growth is clear,' it added.
At 10:03am: (LON:DCTA) Directa Plus Plc share price was 0p at 61p