30th Aug 2018 14:29
LONDON (Alliance News) - Technology company Mporium Group PLC on Thursday reported a widened loss in the first six months of 2018 due to the ongoing development costs associated with its Impact marketing platform.
Mporium's pretax loss totalled GBP2.5 million in the half-year ended June 30, pulled down from GBP2.4 million by the administrative expenses. These expenses increased to GBP2.6 million from GBP2.4 million, as a result of higher depreciation & amortization of the development costs associated with Mporium's Impact platform.
Revenue grew year-on-year to GBP1.2 million from GBP1.1 million driven by sales of Impac, which is Mporium's core product.
"We look to the future with confidence: Impact is operating on campaigns across more than 140 countries and there is significant global appetite for the technology across several verticals," said Chief Executive Nelius De Groot.
"We have made significant steps in our plans to gain increased commercial traction for the technology, as we continue to roll-out successful campaigns where we have signed commercial agreements, and demonstrate the value that Impact is able to deliver. We are confident that the progress and momentum generated to date will continue throughout 2018," De Groot added.
Shares in Mporium were down 5.9% at 6.00 pence on Thursday.
Related Shares:
MPM.L