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LONDON (Alliance News) - Aeorema Communications PLC on Monday reported a slightly widened interim loss due to higher administrative expenses.
Aeorema shares were trading down 10% to 27.40 pence each on Monday morning.
For the six months to the end of 2018, the events organiser posted a pretax loss of GBP141,478 compared to GBP150,167 a year prior.
"The first half loss was anticipated due to recruitment costs and increased salaries. This investment is already producing results and creates a structure for growth," Chair Michael Hale explained.
Administrative costs increased to GBP881,105 from GBP707,377, denting profits despite a 7% rise in revenue year-on-year to GBP2.0 million from GBP1.9 million.
Looking ahead, the company said that trading remains in line with its expectations for the full-year to the end of June.
