27th Feb 2019 09:40
LONDON (Alliance News) - Webis Holdings PLC on Wednesday said that its interim loss widened as revenue halved in the first six months of the financial year due to "challenging conditions".
Shares in the global gaming group were trading down 7.9% at 2.44 pence each.
For the six months to November 30, the company posted a pretax loss of USD591,000 compared to USD19,000 a year ago.
The company's revenue dropped to USD5.4 million from USD10.3 million a year ago, mainly due to a reduction of betting activity in the company's international business-to-business sector.
All other sectors performed "satisfactorily", the firm said.
Looking ahead, Webis said: "Performance has been steady for the new period during a normally quiet time of year for weather and lack of quality content. Overall, we continue to focus on growing player numbers, whilst keeping a close control on costs and implementing further cost efficiencies across the business."
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