27th Sep 2019 11:18
(Alliance News) - Dillistone Group PLC on Friday said it expects its two largest units to become profitable in 2019 after reporting a widened loss for the first half.
The recruitment software supplier said loss widened to GBP397,000 in the six months to the end of June compared to GBP234,000 loss reported a year earlier, as revenue declined by 6% to GBP4.2 million form GBP4.5 million.
Dillistone attributed the reduction in revenue to loss of a major client in 2018.
Looking ahead, Non-Executive Chair Mike Love said: "We anticipate that our two largest divisions, Dillistone Systems and Voyager Software, will both be profitable in 2019."
He added: "We are confident that the group will move back into sustained profitable trading with positive cashflows next year. However, with the continuing uncertainty over Brexit in the UK, and ongoing economic uncertainty in the wider world, the group does expect revenue to be down on its previous expectations and this will result in a loss in 2019."
Dillistone shares were untraded on Friday in London, last closing at 26.00 pence each.
By Evelina Grecenko; [email protected]
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