31st Jul 2018 13:16
LONDON (Alliance News) - Software firm Albert Technologies Ltd said Tuesday it expects its interm loss to deepen, whilst it also appoints a new chairman.
Albert Technologies expects to make an adjusted earnings before interest, tax, depreciation and amortisation loss for the six months to June 30 of approximately USD6.4 million. For the same period last year, the company posted adjusted ebitda loss of USD6.2 million.
Albert Technologies expects cash on its balance sheet at the end of June to be USD22.0 million.
The company added it expects financial results for the entire 2018 to be in line with expectations.
Additionally, the company said it promoted Independent Non-Executive Director Lisa Gordon as chairman, following the decision of John Allwood to step down.
Albert Technologies will also appoint Rob Norman and Meir Moshe as independent non-executive directors at the company's annual general meeting.
Shares were untraded at 42.00 pence on Tuesday.
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