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Directa Plus annual losses widen on higher costs

Mon, 17th May 2021

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 Story provided by StockMarketWire.com

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