25th Jul 2025 11:06
(Alliance News) - Smarter Web Co PLC on Friday reported a widened interim loss for the first half of financial 2025, but said the results do not reflect the company's current scale and progress following its listing on the Aquis Stock Exchange in April.
The Surrey, England-based provider of web design, web development and online marketing services posted a pretax loss of GBP719,566 in the six months that ended April 30, widening from GBP372,640 a year earlier.
Administrative expenses were reduced to GBP207,221 from GBP372,556, but this was offset by GBP173,046 in other expenses and a steep rise in finance costs to GBP339,299 from just GBP84.
Loss per share deepened to 0.97 pence from 0.53p.
Shares in Smarter Web were down 5.8% to 205.00 pence on AQSE on Friday morning.
Chief Executive Officer Andrew Webley said the figures largely reflect activity before its IPO, calling the results "a regulatory requirement" that offer "limited insight" into the firm's current scale and strategic direction.
Since listing, Smarter Web has raised over GBP100 million in equity capital, holds no debt, and maintains over GBP1 million in cash. It has also ramped up its bitcoin-focused treasury strategy, most recently buying 225 bitcoin for GBP19.6 million at an average price of GBP87,096.
The company now holds 1,825 bitcoin worth around GBP160 million, and claims a 30-day yield of 189% on its BTC treasury. Bitcoin, Webley said, remains "the best asset the world has ever seen".
Smarter Web is "only at the beginning of a long-term growth journey", the CEO said, and is optimistic about future opportunities, including through acquisitions.
In the period prior to its listing, Smarter Web generated turnover of GBP176,000 and a modest net profit of GBP93,000. The company reaffirmed its focus on growing its web design, development, and marketing business, while pursuing acquisitions that align with its recurring revenue model.
By Eva Castanedo, Alliance News reporter
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