By David Duffy Former stock-market darling Bookham Technology saw shares dive 11 per cent as it reported its full-year figures, which showed losses in the last quarter had almost doubled.

The fibre-optic chip maker, based at Milton Park, near Abingdon, said losses for the three months to December 31 reached 8.5m, against 4.5m for the same period the previous year. For the full year, losses increased by more than 13m to 29.1m.

However, revenues in the quarter at the company, which is Oxfordshire's business of the year, jumped to 11.5m a more than 400 per cent rise on the same quarter last year and for the year rose to 26.3m.

But shares were under pressure, along with other stocks in the telecoms sector, and dived 11 per cent following the announcement, bringing the group's share price down to 701p a far cry from the 53 hit last July.

Analysts said the results looked broadly in line with expectations, and the shares were falling along with the other telecoms stocks.

The figures also follow a statement the group made in January, which had dampened expectations.