7digital Group PLC - London-headquartered digital music and radio services platform - Reports on 2019 results as well as first half of 2020. In 2019, revenue fell 53% to GBP9.3 million from GBP19.9 million but pretax loss narrows to GBP5.8 million from GBP12.2 million. Administrative expenses down by more than half to GBP13.0 million from GBP27.2 million. In first half of 2020, revenue falls 31% annually to GBP3.1 million from GBP4.5 million, with pretax loss narrowing to GBP945,000 from GBP3.3 million. Interim administrative expenses drop 63% to GBP3.1 million. Secures a GBP1 million revolving credit facility with Investec Bank. Says 36 month facility is payable quarterly with interest rate of 6% above bank base rate.
Current stock price: 1.77 pence
Year-to-date change: up sharply from 0.17p
By Eric Cunha; ericcunha@alliancenews.com
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