28th Jun 2019 15:36
(Alliance News) - Digital media and technology firm Catenae Innovations PLC on Friday said it solid progress during the first half of its financial year.
In the six months to March, Catenae managed to turn proof-of-concept agreements into contracts, launch a blockchain product, and expand into sectors away from football, such as rugby and charities.
Catenae posted revenue of GBP68,857 for the period, nearly seven times what it did a year before, with the pretax loss narrowing slightly to GBP503,233 from GBP552,068.
"The six months under review have seen further progress of the cost reduction exercise combined with growth in the sales of the OnSuite products," said Chief Executive Tony Sanders.
"The company is now in a position where it is taking advantage of the existing product suite as well as continuing to look at opportunities to expand into new sectors and diversify its revenue streams."
Shares were 9.1% lower on Friday afternoon at a price of 0.050 pence each.
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