Velocys plc reported audited consolidated earnings results for the year ended December 31, 2014. For the quarter, the company reported negative revenue of £6,000 against revenue of £4,753,000 a year ago. Operating loss was £24,551,000 against £18,145,000 a year ago.

Loss before income tax was £23,299,000 against £18,032,000 a year ago. Loss for the financial year attributable to the owners of the company was £22,370,000 against £16,921,000 a year ago. Basic and diluted loss per share was 18.33 pence against 14.60 pence a year ago.

Before exceptional items, revenue was £1,736,000, operating loss was £23,223,000, loss before income tax was £21,971,000, loss for the financial year attributable to the owners of the company was £21,042,000 or was 17.24 pence per basic and diluted loss per share. Net cash used in operating activities was £15,758,000 against £11,160,000 a year ago. Purchases of property, plant and equipment was £1,544,000 against £971,000 a year ago.

Purchase of intangible fixed assets was £429,000 against £418,000 a year ago.