Revenues have risen by more than a tenth at material manufacturer Surface Transforms.
The company, which makes carbon fibre reinforced ceramic materials, announced that turnover increased by 12 per cent to £623,000 in the six months ending 30 November 2014.
Pre-tax losses increased by 27 per cent to £471,000 over the same period.
Chairman David Bundred said: "It is encouraging to report continuing progress at Surface Transforms in line with guidance issued at the time of our November 2014 fundraising.
"The company continues to pursue the twin-track approach of achieving break-even through both retrofit sales and 'near original equipment manufacturer (OEM)' sales in parallel with winning 'game-changing' OEM opportunities in the automotive and aerospace markets."