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Graphene NanoChem Annual Pre-tax Loss Narrows, Revenue Up, Wins Tender

Graphene NanoChem Plc. (GRPH.L) Friday said its full-year loss before tax narrowed to 6.8 million pounds from 10.2 million pounds reported last year.

Loss per share was 5.74 pence, compared to 10.97 pence last year.

Group revenue increased to 48.3 million pounds from 31.6 million pounds, with sales up 53 percent.

Separately, the company reported the successful tender award by a major national oil company for its oil-based drilling fluid, the PlatDrill series, valued by the Group at $28 million.

Product deployment is expected to commence in the fourth quarter for an initial period of three years.

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