George Frangeskides, Exec-Chair at Alba Mineral Resources, discusses grades at the Clogau Gold Mine. Watch the full video here.

Less Ads, More Data, More Tools Register for FREE

Pin to quick picksLSAI.L Share News (LSAI)

  • There is currently no data for LSAI

Watchlists are a member only feature

Login to your account

Alerts are a premium feature

Login to your account

Location Sciences Posts Interim Revenue Rise But Warns On Sales Cycles

Thu, 26th Sep 2019 11:27

(Alliance News) - Location Sciences Group PLC on Thursday said longer sales cycles will impact revenue in the near term and that the company plans to raise GBP750,000 through a placing as a result.

For the six months to June 30, the company recorded an 94% year-on-year revenue rise to GBP454,872 from GBP234,307. The firm's pretax loss was broadly unchanged at GBP1.1 million.

The revenue gain was offset by a 13% rise in administrative expenses to GBP1.4 million from GBP1.3 million, "reflecting the beginnings of the investment" in the Verify platform and the company's US expansion.

Location Sciences secured 49 brands to its Verify platform, taking the total number of customers of the technology to 58. The firm set a target of adding 50 new brands for the location verification product in 2019.

Location Sciences said: "The company expects longer sales cycles than previously envisaged which will in turn impact the revenues anticipated in the near term. As such the company is announcing a small fundraise today and will seek further investment in due course. In addition to this, the directors have taken measures to reduce the overheads of the business to maximise shareholder value in the long term."

The placing aims to raise a minimum of GBP250,000, but could secure up to GBP750,000.

Through an "accelerated bookbuild", Location Sciences will issue up to 33.3 million new shares to new and existing investors at 2.25 pence apiece. This represents a 17% discount to its 2.80p closing price on Wednesday.

Shares in the software firm were down 14% at 2.42 pence each in London on Thursday morning.

Location Sciences explained: "While the company confirms that following completion of the placing it will have sufficient working capital for its medium term operational requirements, it will require further investment in due course. Should the placing not be successful, the company will seek alternative sources of funding and, if required, implement further cost control measures."

By Eric Cunha; ericcunha@alliancenews.com

Copyright 2019 Alliance News Limited. All Rights Reserved.

More News
9 Feb 2024 16:09

UK shareholder meetings calendar - next 7 days

Monday 12 February 
Arix Bioscience PLCGM re takeover by RTW Biotech Opportunities Ltd
JPMorgan UK Smaller Companies Investment Trust PLCGM re merger with JPMorgan UK Smaller Companies
Mears Group PLCGM re authority to buy back up to 10% of shares
Tuesday 13 February 
Cellular Goods PLCAGM
Iconic Labs PLCAGM
JPMorgan Indian Investment Trust PLCAGM
Tui AGAGM including London Stock Exchange delisting vote
Xtract Resources PLCGM re sale of Manica gold project to MMP
Wednesday 14 February 
GCP Infrastructure Investments LtdAGM
Gfinity PLCGM re annual report
Tertiary Minerals PLCAGM
Tritax EuroBox PLCAGM
Thursday 15 February 
JPMorgan Asia Growth & Income PLCAGM
Synergia Energy LtdGM re share placing
VVV Resources LtdAGM
Friday 16 February 
Irish Residential Properties REIT PLCEGM re removal of 5 of 9 directors
Location Sciences Group PLCGM concerning reverse takeover agreement
Red Rock Resources PLCAGM
UK Oil & Gas PLCGM re proposed capital reorganisation
  
Comments and questions to newsroom@alliancenews.com
  
A full 21-day events calendar is provided each day with a subscription to Alliance News UK Professional.
  
Copyright 2024 Alliance News Ltd. All Rights Reserved.

Read more
30 Jan 2024 10:37

Location Sciences shares surge on Sorted reverse takeover

(Alliance News) - Location Sciences Group PLC on Tuesday announced plans to change its name, its CEO and its CFO after agreeing a reverse takeover of Sorted Holdings Ltd.

Read more
25 Jan 2024 21:59

TRADING UPDATES: Karelian gets permit extension, Starwood ups dividend

(Alliance News) - The following is a round-up of earnings for London-listed companies, issued on Thursday and not separately reported by Alliance News:

Read more
20 Dec 2023 20:00

TRADING UPDATES: K3 Business says cash balances ahead of forecast

(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Wednesday and not separately reported by Alliance News:

Read more
6 Oct 2023 11:36

Location Sciences makes "significant" progress in planned Sorted buy

(Alliance News) - Location Sciences Group PLC on Friday said it has made "significant" progress on its proposed acquisition of Sorted Holdings Ltd.

Read more
14 Sep 2023 13:58

IN BRIEF: Location Sciences interim revenue plunges, loss narrows

Location Sciences Group PLC - London-based location data verification company - Says in the six months ended June 30, pretax loss narrows to GBP492,353 from GBP232,538 a year prior, as administrative expenses fall by 69% to GBP150,716. Adds revenue plunges 77% to GBP33,765 from GBP145,430 the year before. Looking ahead, says it is "excited with the potential acquisition" of e-commerce delivery experience platform, Sorted.

Read more
28 Jun 2023 18:37

TRADING UPDATES: Lansdowne Oil & Gas seeks talks over Barryroe dispute

(Alliance News) - The following is a round-up of updates by London-listed companies, issued Wednesday and not separately reported by Alliance News:

Read more
26 Jun 2023 14:35

CORRECT: Location Sciences revenue falls amid continued headwinds

(Correcting the headline to say revenue has fallen.)

Read more
26 Jun 2023 14:05

Location Sciences annual revenue rises amid continued headwinds

(Alliance News) - Location Sciences Group PLC on Monday said its revenue was affected by a "share of challenges" but reported a narrowed loss amid lower costs.

Read more
27 Sep 2022 15:00

EARNINGS SUMMARY: North American IT hikes dividend on US business

(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Tuesday and not separately reported by Alliance News:

Read more
23 Jun 2022 16:02

UK shareholder meetings calendar - next 7 days

Friday 24 June 
AFC Energy PLCGM re fees for non-executive directors
Avast PLCAGM
Devolver Digital IncAGM
Entain PLCAGM
Gulf Keystone Petroleum LtdAGM
Hawkwing PLCAGM
Invesco Bond Income Plus LtdAGM
Life Science REITAGM
Northcoders Group PLCAGM
Princess Private Equity Holding LtdAGM
Monday 27 June 
Anglo-Eastern Plantations PLCAGM
Celadon Pharmaceuticals PLCAGM
Cizzle Biotechnology Holdings PLCAGM
Echo Energy PLCAGM
Medica Group PLCAGM
Pelatro PLCAGM
Surgical Innovations Group PLCAGM
Warpaint London PLCAGM
Tuesday 28 June 
4D Pharma PLCAGM
Acceler8 Ventures PLCAGM
Airtel Africa PLCAGM
Alina Holdings PLCAGM
Aquila Energy Efficiency Trust PLCAGM
Attraqt Group PLCAGM
Bay Capital PLCAGM
Capital & Counties Properties PLCAGM
CMO Group PLCAGM
Corre Energy BVAGM
Creo Medical Group PLCAGM
Futura Medical PLCAGM
Gama Aviation PLCAGM
ICG Enterprise Trust PLCAGM
ImmuPharma PLCAGM
IQE PLCAGM
Katoro Gold PLCAGM
Rockhopper Exploration PLCAGM
Sound Energy PLCAGM
TP Group PLCAGM
UK Oil & Gas PLCAGM
Volvere PLCAGM
Zegona Communications PLCAGM
Wednesday 29 June 
Africa Opportunity Fund LtdAGM
Argo Blockchain PLCAGM
Atome Energy PLCAGM
Brave Bison Group PLCAGM
Concurrent Technologies PLCAGM
Eden Research PLCAGM
Facilities by ADF PLCAGM
Gemfields Group LtdAGM
Golden Prospect Precious Metals LtdAGM
HeiQ PLCAGM
Helios Underwriting PLCAGM
Hurricane Energy PLCAGM
i(x) Net Zero PLCAGM
Lords Group Trading PLCAGM
MaxCyte IncAGM
Meggitt PLCAGM
Mobile Tornado Group PLCAGM
NB Distressed Debt Investment Fund LtdAGM
NetScientific PLCAGM
Provident Financial PLCAGM
RA International Group PLCAGM
Reabold Resources PLCAGM
Symphony Environmental Technologies PLCAGM
Team17 Group PLCAGM
ThinkSmart LtdGM re approval for capital return
Trinity Exploration & Production PLCAGM
URA Holdings PLCAGM
XP Factory PLCAGM
Zaim Credit Systems PLCAGM
Thursday 30 June 
3i Group PLCAGM
Ashtead Technology Holdings PLCAGM
Borders & Southern Petroleum PLCAGM
Caspian Sunrise PLCAGM
Cobra Resources PLCAGM
Crimson Tide PLCAGM
ECSC Group PLCAGM
Evraz PLCAGM
Gresham House Energy Storage Fund PLCAGM
GRIT Investment Trust PLCAGM
Gulf Marine Services PLCAGM
Hamak Gold LtdAGM
Hemogenyx Pharmaceuticals PLCAGM
Immotion Group PLCAGM
Inspiration Healthcare Group PLCAGM
Inspired PLCAGM
Jadestone Energy PLCAGM
Kanabo Group PLCAGM
Kropz PLCAGM
Likewise Group PLCAGM
Live Co Group PLCAGM
Location Sciences Group PLCAGM
LoopUp Group PLCAGM
M&C Saatchi PLCAGM
Microsaic Systems PLCAGM
Nostra Terra Oil & Gas CoAGM
Pathfinder Minerals PLCAGM
Playtech PLCAGM
Primorus Investments PLCAGM
Rockfire Resources PLCAGM
Roquefort Therapeutics PLCAGM
Sanne Group PLCAGM
Scottish Mortgage Investment Trust PLCAGM
Serica Energy PLCAGM
Supply@ME Capital PLCAGM
Surface Transforms PLCAGM
Synairgen PLCAGM
Tower Resources PLCAGM
Trainline PLCAGM
ValiRx PLCAGM
Victoria Oil & Gas PLCAGM
Watchstone Group PLCAGM
  
Copyright 2022 Alliance News Limited. All Rights Reserved.

Read more
1 Jun 2022 12:15

LONDON MARKET MIDDAY: Stocks slip into red but Doc Martens shines

(Alliance News) - London share prices were unable to hold on to morning gains, slipping into the red by midday on Wednesday, with weak European and UK manufacturing data compounding the impact of similarly disappointing stats out of China and Japan.

Read more
1 Jun 2022 11:22

IN BRIEF: Location Sciences struggles to find acquisition candidate

Location Sciences Group PLC - London-based location data verification - Says it will retain access to the necessary skills and resources to enable the ongoing operation of Location Sciences generally, and its Verify business, on a consultancy basis via a third-party contractor. Continues to assess strategic options for its verify business.

Read more
30 Mar 2022 14:22

EARNINGS UPDATES: Barkby pubs bounce back; Catalyst Media in profit

(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Wednesday and not separately reported by Alliance News:

Read more
22 Oct 2021 15:43

Location Sciences sells business, contract to Digital Envoy

(Sharecast News) - Location Sciences announced on Friday that it has agreed to sell its insights dashboard and four contracts pertaining to its location data and insights business toUnited States-based IP intelligence company Digital Envoy for up to $0.7m in cash.

Read more

Login to your account

Don't have an account? Click here to register.

Quickpicks are a member only feature

Login to your account

Don't have an account? Click here to register.