Losses accelerated ahead of Versarien founder’s departure
Versarien has revealed it lost £3.4m in six months when founder and chief executive Neill Ricketts departed in March.
The graphene manufacturing business has struggled with successfully commercialising its innovations and in February reported a pre-tax loss of £8.4m for the 18 months to September 2022.
But its losses accelerated in the six months to March, as revenues dropped by nearly one-third to £2.6m because of the ending of a key contract.
Turnaround specialist David Stone was brought in 10 weeks ago to aid the recove... You can carry on reading TheBusinessDesk.com for free, but you have reached the maximum number of pages an unregistered user can view. To register for an account, click here or login below...
