News blog

Versarien

  • BY: Andrew Hore |
  • POSTED: 19/03/2014 |

Advanced engineering materials developer Versarien has announced the first commercial contract for VersarienCu and the first revenues will come through this year. 

The technology will be used in DNA heat spreading plates. It has taken two years of work with the customer to design the first product and the cooling performance shows an improvement over the existing products. A 16 week production scale up has started. There is scope to apply the technology to the client’s other product lines.
The Total Carbide manufacturing business has been made more efficient and orders are growing, particularly from the oil and gas sector. Total Carbide has started pilot manufacturing of VersarienCu components.

Second half trading was similar to the first half and pro forma full year revenues will be around £3.7m. 

House broker Northland expects a small loss in the year to March 2014, rising to £400,000 in 2014-15 although this forecast could be marginally downgraded

At 26p a share, Versarien is valued at £21.6m. The shares are trading on 65 times prospective 2014-15 earnings.

Download the latest AIM Journal from http://wwww.hubinvest.com/AIMPDFMarch2014_54.pdf

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