26th Sep 2013 12:48
LONDON (Alliance News) - Mobile Tornado Group PLC, a provider of mobile communication services, Thursday saw increases in revenues and widened pretax losses as it bolstered its headcount.
In the half-year ended June 30, the company posted increased revenues of GBP1.4 million, up from GBP1.0 million in the previous year. Revenues were boosted by increases in recurring licence fees, up 30% to GBP38,000. However, it posted a pretax loss of GBP1.4 million, widened from a pretax loss of GBP578,000 which the company attributed to increases in headcount in its technical and operations teams.
The company said it had a good pipeline of installed platforms that it hopes to move towards commercial launch in the second half of the year, and that it had seen interest from Government agencies over its cellular platform for homeland security.
It said that it was trading in line with expectations for the full year, and that opportunities coming to fruition in the second half would deliver value.
Shares in Mobile Tornado were trading down 2% at 24.00 pence Thursday afternoon.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
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