Velocys plc announced audited consolidated earnings results for the year ended December 31, 2013. For the year, the company reported revenue was £4.75 million against £7.63 million a year ago. Operating loss was £18.14 million against £10.93 million a year ago.

Loss before income tax was £18.03 million against £10.84 million a year ago. Loss attributable to owners of the company was £16.92 million against £10.4 million a year ago. Basic and diluted loss per share was 14.60 pence against 11.47 pence a year ago.

Net cash used in operating activities was £11.16 million against £7.86 million a year ago. Purchase of property, plant and equipment was £0.971 million against £0.696 million a year ago. Purchase of intangible fixed assets was £0.418 million against £0.358 million a year ago.

Adjusted losses for the period were £13.0 million against £7.9 million a year ago. Cash outflow in the period was £12.5 million against £8.9 million a year ago.