23rd Jun 2015 08:46
LONDON (Alliance News) - Dods (Group) PLC Tuesday posted a widened pretax loss for its recently ended financial year as a result of exceptional charges, impairment and amortisation following an "aggressive business transformation programme".
Dods is an information, events and publishing company.
For the year to end-March, the company posted a pretax loss of GBP5.0 million, widened from a pretax loss of GBP1.5 million a year before, as revenue declined to GBP18.3 million from GBP19.8 million, and it posted an increase in exceptional costs and amortisation, as well as an impairment related to an assessment of its brand and publishing rights portfolio.
Dods attributed the decline in revenue to volatility in events and training services.
It intends to continue implementing its reorganisation during the current financial year, with plans to conclude the realignment of its operations in the first half. The next phase of this programme will include redesigning operations and accelerating the expansion of products and services to existing clients and targeting new business, Dods said.
"Dods began an aggressive business transformation programme in October 2014 designed to focus the organisation, accelerate the company's capabilities to capture strategic market opportunities, and improve performance. I am pleased to report the company completed the business transformational plan initiatives for the third and fourth quarters of the fiscal year, and therefore, concluded the year in line with expectations," said Chairman Cheryl Jones in a statement.
Shares in Dods are trading down 4.8% at 7.50 pence Tuesday morning.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
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