2nd Sep 2022 12:46
(Alliance News) - RentGuarantor Holdings PLC on Friday reported a widened interim loss as sales costs and administrative expenses grew during the first half of 2022.
In the six months that ended June 30, the rent guarantee services provider reported a pretax loss of GBP352,919, widened from GBP258,322 the previous year.
Cost of sales rose 48% to GBP43,785 from GBP29,629 and administrative expenses grew to GBP475,321 from GBP316,312.
The firm also said the widened loss reflected its further investment in people and marketing activities.
Revenue jumped 87% to GBP170,492 from GBP91,246.
In the second half of year, the firm noted further increases in revenue as it continued to build its team and capabilities.
It acknowledged, looking forward, that the economy and property sector is likely to be impacted by current uncertainties but said it is "well placed" to capitalise on any opportunities.
Shares in RentGuarantor were untraded on AQSE in London on Friday, last trading at 138.5 pence.
By Heather Rydings; [email protected]
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