25th Jul 2016 08:21
LONDON (Alliance News) - Learning systems provider NetDimensions Holdings Ltd said on Monday revenue for the first six months of the year was flat year-on-year but said delays in roll-outs had dragged on sales and would likely continue to do so in the second half.
Shares in NetDimensions were down 28% Monday morning at 42.00 pence.
Revenue for the firm was broadly flat in the half while its adjusted earnings before interest, taxation, depreciation and amortisation loss was below USD1.0 million, compared to a loss of USD1.8 million the year before. NetDimensions said this was due to "better management of expenses", and expects this to benefit its full-year results.
But NetDimensions Chief Executive Jay Shaw said first-half sales were "somewhat lower" than expected due to delays in deal completions, which affected revenue growth in the six months to June and is likely to continue into the second half of the year.
"The company will continue to maintain a tight focus on cost control and we would expect this to contribute to an improvement in full-year profitability," Shaw said.
By Lucy Heming; [email protected]
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