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Mobile Tornado suffers £400k loss in 2020

Wed, 27th Jan 2021

Mobile Tornado suffered an EBITDA loss of approximately £400,000 in 2020, according to the company's full year trading update. Revenues over this period were £2.52 million. However, the communication solutions provider's recurring revenues remained stable at £2.03 million compared to £2.06 million in 2019. Shortfalls in revenue was partly offset by a reduction in total operating expenses from £3.16 million to £2.73 million. Chairman Jeremy Fenn said: 'There is still a huge amount of uncertainty in the marketplace, so it is difficult to make forecasts for the year. However, we have started the year brightly and the board is totally focused on moving the business into sustainable profit during the current financial year.' At 1:59pm: (LON:MBT) Mobile Tornado Group PLC share price was 0p at 3.55p Story provided by StockMarketWire.com

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