11th Feb 2014 11:34
LONDON (Alliance News) - Litebulb Group Ltd said Tuesday that it expects to see a narrowed loss before interest, tax, depreciation and amortisation in the full year ended December 31, 2013, as revenue was boosted by acquisitions.
The retail brands and products company said it is on track to meet expectations for 2014 and see positive EBITDA.
Revenues for the year rose to GBP8.0 million from GBP3.0 million in the previous year, bolstered by the acquisitions of Bluwstuff Ltd, Rizon Studios, and Meld Group Ltd.
The company expects a LBITDA of around GBP600,000, narrowed from a LBITDA of GBP1.4 million in the previous year.
Litebulb said it expects to see on-going annual cost savings of GBP400,000 as a result of the integration of its acquisitions. The company said it continues to seek further acquisition opportunities to progress its strategic objectives.
Shares in Litebulb were trading flat at 1.09 pence Tuesday morning.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
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