27th Jul 2020 13:36
(Alliance News) - Dev Clever Holdings PLC on Monday said its interim pretax loss widened slightly on a rise in expenses.
The Tamworth-based company is a provider of mobile and immersive experiences and also develops a careers guidance platform.
Revenue in the six months to the end of April rose 45% annually to GBP382,554 from GBP264,625.
Its pretax loss stretched to GBP596,724 from GBP569,340. Administrative expenses were 64% higher at GBP768,728 from GBP467,962, though a one-off cost of GBP245,283 for the company's initial public offering hit last year's figures and not this year's.
"We have made significant strategic progress in the first half and are seeing increasing demand for our remote and immersive solutions both in the educational and corporate sectors," Chief Executive Officer Chris Jeffries said.
"Whilst Covid-19 has presented short-term challenges in terms of the launch of the group's Educate products, the board believes that as a result of the interest and initial uptake of our products in the US, the company is well-placed to perform in line with management's expectations for the full year ending October 31, 2020."
Shares in the company were 4.3% lower at 9.19 pence each in London on Monday afternoon.
By Eric Cunha; [email protected]
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