30th Jun 2016 10:03
LONDON (Alliance News) - eServGlobal Ltd on Thursday said its revenue fell in its first half, causing its pretax loss to widen, but said its performance had been more positive going into the second half, with order flow picking up.
The end-to-end mobile financial services company posted revenue of USD8.4 million for the six months ended April 30, down from USD12.8 million for the same period a year earlier, with eServGlobal saying the fall in revenue was mainly due to the timing of pipeline conversion. This meant pretax loss widened to USD11.9 million from USD7.6 million the same period a year earlier.
No interim dividend was offered for either the current or the previous year.
eServGlobal, however, said towards the end of its first half, and in the first two months of its second half, it has "begun to recover with significant orders received".
"Allied to the continued downward pressure on costs we can reiterate our recent statement that we are on track to achieve a small positive earnings before interest, tax, depreciation and amortisation for full financial year 2016," Executive Chairman John Conoley said.
Shares in eServGlobal were down 2.9% at 4.12 pence on Thursday.
By Hannah Boland; [email protected]; @Hannaheboland
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