Versarien, the advanced engineering materials group, says global interest in its products is growing fast.

The Cheltenham based company reported a loss before tax of £2.2 million (2016: £1.8 million) in its unaudited final results for the year ended 31 March 2017.

Group revenue increased by 35 per cent to £5.93 million (2016: £4.40 million).

The company says the pipeline of enquiries for its advanced graphene material is expanding rapidly with enquiries from America, Europe, Mexico, Japan and South Korea.

Highlights include:

● First significant graphene shipment of £0.1 million

● Two graphene related acquisitions in the year, both bedding down well

● Numerous collaboration agreements signed for graphene application development

● Graphene enhanced ABS (Acrylonitrile-Butadiene-Styrene) filament for use in 3D printing launched

● Relocation of Hard Wear Products to a new factory near Aylesbury

Commenting on the final results, Neill Ricketts, chief executive officer of Versarien (pictured), said: "The year to 31 March 2017 was one of considerable progress for Versarien. The opportunity afforded by our graphene powders and inks is now being recognised by a number of global companies with whom we are engaging.

"Our graphene has been independently verified as being of the highest standard and we are seeing opportunities emerging in many different markets as a result.

"The acquisitions of AAC Cyroma and of Cambridge Graphene are bedding in well and in addition we are now seeing positive signs of recovery in our traditional hard wear business.

"We would like to take this opportunity to thank our continually supportive investor base and our employees for their hard work as we look forward to the future with optimism and confidence."