Gstechnologies Share News (GST)

(Sharecast News) - Integrated information and communication technology infrastructure company GSTechnologies announced a 1.11% improvement in revenue year-on-year in its interim results on Monday, to $2.6m (£1.98m).
The London-listed firm said its operating income for the six months ended 30 September was $2.59m, up from $2.33m.

For the period, it said it had positive net cash from operating activities of $20,000, compared to $216,000 a year earlier.

At period end, GSTechnologies said it had $0.4m of cash and cash equivalents, down from $0.82m at the same time a year earlier.

It said it made a loss for the period of $0.47m, widening from $0.21m year-on-year, due to a decrease in its profit margin and an increase in employee costs.

"[Our] wholly-owned subsidiary EMS Wiring Systems has internally restructured its workforce to align with the group's strategic plans, and have decreased monthly costs by an estimated 20% from November," the board said of its post-period end highlights.

"[The] IS-EMS investment [has been] withdrawn, [and it is] no longer an associate of the company."

At 1416 GMT, shares in GSTechnologies were flat at 0.16p.