11th Jul 2023 16:49
Narf Industries PLC - US-focused cybersecurity provider - Reports contract revenue of USD2.6 million in the year to December 31, 2022, up from USD1.9 million the year prior. Pretax loss multiplied to USD18.4 million from USD770,579 before with loss per share of 1.3 pence compared to 0.1p. Expects revenue to more than double to USD5.8 million in 2023 and forecasts a 50% fall in operating expense of USD1.4 million when compared to 2022. Targets break-even earnings before interest, taxation, depreciation and amortisation for 2023. Says suspension of share trading to be lifted in the coming days as 2022 audit is now complete.
Executive Chair, John Herring says: "To avoid any further delays in returning our shares to trading we took the difficult decision of accepting a number of disclaimers and qualifications to the audit report at this time, but are working to resolve all 2022 matters and preclude any future disruption to timely reporting."
Current stock price: Shares are suspended
By Jeremy Cutler, Alliance News reporter
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