Artilium Interim Loss Narrows, Second Half Trading Started Positively

27th Mar 2018 13:13

LONDON (Alliance News) - Artilium PLC said on Tuesday its interim loss narrowed, and the start of its second half has been "very positive".

Revenue for the six months to December 31 was EUR5.5 million, up 7.8% from EUR5.1 million the year before. The company's pretax loss narrowed to EUR389,000 from EUR946,000 a year earlier.

The start of 2018 calendar year has been very positive, the company said, with Artilium selling an Internet of Things platform that has been developed for Telenet, its largest customer. Under this agreement, Artilium will sell products and services within Telenet's customer base which should increase sales potential for the whole group.

"Artilium has made considerable progress in the last six months with positive developments across our key financial metrics. We have achieved sales growth and strengthened interest in our core and expanding business offerings. The group's strategic partnerships, such as the one with Pareteum Corporation, are bearing fruit," Non-Executive Chairman Jan-Paul Menke said.

"The new financial year has started well and we look forward to updating the market on our continued progress in due course," Menke added.

Shares in Artilium were up 1.8% at 14.50 pence on Tuesday.