7th Aug 2024 14:27
Sorted Group Holdings PLC - Manchester-based operator of a delivery experience platform - In the first half ending June 30, pretax loss narrows to GBP3.4 million from GBP6.6 million. Revenue falls 2.7% to GBP3.2 million from GBP3.3 million, while cost of sales decline 8.9% to GBP1.2 million from GBP1.4 million. Administrative expenses fall 35% to GBP3.7 million from GBP5.6 million. Amortisation and depreciation costs drop 46% to GBP1.5 million from GBP2.7 million.
Chair Simon Wilkinson says: "We have reduced costs in back-office functions such as HR, internal IT, Finance, and Legal, as well as property and office expenses. These savings have been strategically reinvested in front-office areas, particularly in expanding our Sales team and enhancing our Software Development teams."
Current stock price: 70.25 pence
12-month change: down 51%
By Elijah Dale, Alliance News reporter
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