11th Sep 2019 11:53
(Alliance News) - Digital media and technology firm Catenae Innovations PLC on Wednesday warned second-half revenue is to miss its own expectations.
Shares were 38% lower on Wednesday morning in London at 0.022 pence each.
This is because, Catenae said, the firm's target markets are depressed due to a reluctance to invest due to economic and Brexit-related worries in the UK.
As a result, Catenae's loss for its year ending September will be higher than expected, but the firm is still confident on the company's overall future.
"The company continues to carefully manage its working capital position and will need to raise further capital in the near future. Further announcements will be made in due course," said Catenae.
For financial 2018, Catenae posted a pretax loss of GBP1.1 million on revenue of GBP157,218.
Related Shares:
CTEA.L