Versarien - the Forest of Dean-based advanced materials firm which recently announced a partnership with fashion brand Superdry - has revealed a reduced half-year loss as revenues increase.

The firm which makes graphene - the single atom-sized carbon material -said its pretax loss for the first half of the current financial year, ended 30th September, was £3 million compared with a loss of £4.3 million a year earlier.

Revenue for the period rose to £3.8 million from £2.7 million the previous year.

Neill Ricketts, Versarien CEO, told Punchline: "Speaking as the largest shareholder in the company, these are a good set of results that show revenue is up and losses down in the recovery from Covid. Upwards and onwards for the future!"

Last month, the company announced a unique partnership with Cheltenham-based fashion brand Superdry  to produce graphene-enhanced sportswear.

In May, in another innovation, Versarien helped produce the world's first graphene-enhanced concrete  for the construction of a gym for military veterans at Amesbury's Solstice Park in Wiltshire.

In June, the company revealed it was moving its headquarters to the Longhope Business Park  in the Forest of Dean.

The 14,000 sq ft development, with an option to take on extra space later, houses the company's innovation centre and manufacturing.

Versarien says trading conditions are far from certain and it remains vigilant on costs. It is focussing its efforts on opportunities for graphene use in the U.K. and overseas for textile and concrete manufacture.