7th Aug 2018 11:23
LONDON (Alliance News) - Ubisense Group PLC said Tuesday it expects revenue for the first half of 2018 to drop 19%.
For the six months to June 30, the company said it expects total revenue to drop to GBP10 million from GBP12.4 million a year before, despite receiving half-year orders in excess of GBP13 million compared to GBP9.4 million a year ago.
The company said the revenue fall is mainly due to the "anticipated decline in the Geospatial business" following the disposal of the Japanese Geospatial third-party services unit.
Ubisense shares were untraded at 72.00 pence each on Tuesday.