Versarien Plc (LON:VRS) CEO Neill Ricketts chats with DirectorsTalk about its unaudited results for the year ended 31 March 2018 in which it saw group revenues increased by 52%. Neill talks us through the highlights, provides some background on agreements that are key to its commercialisation strategy and explains how global expansion is becoming increasingly important.
Versarien plc, is an advanced engineering materials group. Leveraging proprietary technology, the Group creates innovative engineering solutions for its clients in a diverse range of industries. Versarien has five subsidiaries operating under two divisions: Graphene and Plastics and Hard Wear and Metallic Products.
The current financial year has started positively, with the graphene business having entered into five significant collaborations since the year end, including an agreement with MediaDevil to launch a new range of earphones and audio equipment which will utilise our Nanene brand. This is the first time it has been used with consumer goods, and will see Versarien receive a royalty on each product sold.
We have also received initial purchase orders for Nanene both in the UK and China. We anticipate this trend of new collaboration agreements being secured, continuing. We therefore look forward with real optimism and confidence to the year ahead.