30th Sep 2021 11:02
7digital Group PLC - London-based music licensing provider - Pretax loss widens to GBP1.9 million in the six months ended June 30 from GBP1.0 million last year. Revenue rises 6% year-on-year to GBP3.3 million from GBP3.1 million. Says that some contracts the company expected to sign in the second half have been pushed back until the first half of 2022, as a result of licensing delays. Thus, the company says it will not achieve full-year earnings before interest, tax, depreciation and amortisation profitability.
Chief Executive Paul Langworthy says: "7digital entered the second half of 2021 with a strong pipeline across its core segments of fitness and wellness and social media as well as a number of prospective contracts in the new segments of gaming and connected-car entertainment."
Current stock price: 0.52 pence, down 41% on Thursday
Year-to-date change: down 57%
By Scarlett Butler; [email protected]
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