LONDON (ShareCast) - Technology group Haydale Graphene Industries saw shares decline on Tuesday as losses during the first half of the year increased.
Despite a jump on revenues from £0.06m to £0.48m, losses before tax rose 69.5% to £1.57m, driving losses per share to rise 55.5% to 0.14p.

The company said it increased its capital expenditure to £0.6m from £0.02m on plant and machinery in order to increase capacity.

Chief executive Ray Gibbs said: "Haydale continues to carry out the strategic aims as set out in our 2014 annual report as we begin to exploit the commercial and technical momentum started in the second half of the previous financial year.

"The remainder of the year will see our efforts focussed on generating commercial revenues and the commissioning of our latest large scale HD200 reactor."

Gibbs added that the acquisition of EPL in November, which develops composite polymer materials, gives access to the growing composite market for graphene which is already worth in excess £10bn per annum.

Shares fell 9.7% to 135p on Tuesday at 14:03.

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