4th Aug 2021 14:33
SEEEN PLC - London-headquartered social media services firm - Posts an adjusted pretax loss of USD900,000 for the half year ended June 30, narrowed from USD1.1 million a year before. The result is boosted by its largest technology customer contract to date in the period, generating revenue of up to USD100,000.
The group's MCN business reports a 39% year-on-year increase in revenue to USD5.1 million from USD3.9 million a year previously. SEEEN is the outright owner of subsidiary GT Channel Inc, which operates its multichannel network or MCN business.
Chair Patrick DeSouza comments: "We have executed the first half of our three-year plan. We are now shifting towards a priority on sales and building our Go-To-Market team. We have a strong capital base for the next part of our corporate journey."
Also announces that Scott Schlichter, president of the group's MCN business, will step down from his role with immediate effect. He will be replaced by Jake Desjarlais, who joined the MCN division in 2020 and previously helped launch Studio71, a digital media company.
Current stock price: 45.00 pence
Year-to-date change: up 24%
By Will Paige; [email protected]
Copyright 2021 Alliance News Limited. All Rights Reserved.
Related Shares:
Seeen