Applied Graphene Materials announced their financial results for 2014. Pre-tax losses for the year ended in 31 January 2015 was £1.9 million, up from £1.2 million in the previous year. The increase is mostly due to AGM's increased invesetment in production, business infrastructure and new employees. AGM has about £6.6 million in cash as of the end of January 31.
AGM says that they are anticipating future growth and to support this new growth they had to increase expenses. The company remains confident of progress in 2015, and they see accelerated graphene sampling by customers. Production volume has been increased in past months. 90% of AGM’s ongoing engagements are with its three core target markets of advanced composites, coatings and functional fluids.
