25th Sep 2018 12:57
LONDON (Alliance News) - KRM22 PLC on Tuesday reported maiden revenue but said its loss widened sharply in the first half of 2018, hurt by increased expenses.
The software investment business reported a pretax loss for the six months to June 30 of GBP1.4 million, widened significantly from GBP6,000 reported a year earlier. KRM22 also said it generated maiden revenue of GBP73,000.
KRM22 floated on London market in April, raising GBP10.3 million. Following admission, the company acquired 60% of surveillance technology company Irisium Ltd, which generated GBP1.0 million of annualised recurring revenue.
"It has been just a few months since our IPO, but in that short time we have achieved a great deal," said Executive Chairman & Chief Executive Keith Todd.
"We have secured our first investment and have wasted no time in building out the early foundations of what, we believe, will be the new standard in risk management for capital markets," added Todd.
KRM22 shares were untraded on Tuesday, last quoted at 147.50 pence each.
Related Shares:
Krm22 Plc