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Share Price: 9.30
Bid: 9.30
Ask: 9.58
Change: -0.33 (-3.43%)
Spread: 0.28 (3.011%)
Open: 9.28
High: 9.88
Low: 9.28
Prev. Close: 9.63
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Starcom Interim Loss Halves As Revenue Jumps Amid Higher Margin Sales

Wed, 29th Aug 2018 10:29

LONDON (Alliance News) - Vehicle tracking system firm Starcom PLC said Wednesday its interim loss halved as revenue jumped amid a significant shift towards its new, higher-margin business.

For the six months ended June, pretax loss slimmed to USD477,000 from USD925,000 the year prior. This was after revenue rose 63% to USD3.1 million from USD1.9 million the year before.

"These improved results demonstrate that the company is now beginning to reap the rewards of its years of investment in its superior telematics and tracking technology," Starcom Chief Executive Officer Avi Hartmann said.

"We are seeing more significant clients now adopting our systems and many more are in discussion with us on future projects," Hartmann added. "We are very focused on developing these new relationships which we expect to drive our growth in the next few years."

Recurring revenue from software-as-service business grew 15% to USD890,000 from USD775,000 the year prior. Its low-margin Helios business now accounted for just 34% of revenue, down from 58% six months earlier.

"2018's first half revenues have already exceeded half of 2017's full year revenues which were weighted, as in previous years, towards the second half of the year," Starcom Chairman Michael Rosenberg said.

"With this good start," Rosenberg added, "and as we engage with an unprecedented number of higher quality new client and revenue opportunities, we expect that revenues for 2018 should significantly exceed those for 2017 and that full year 2018 will show a positive EBITDA before share option provisions. More importantly, we have established a stronger foundation of improved client and product mix to enable growth to continue into 2019."

For the six month period, Starcom's loss before interest, taxes, depreciation and amortisation before share options reduced to USD40,000 from USD283,000 the year prior.

Shares in Starcom were 6.6% lower at 2.92 pence on Wednesday.

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3 Feb 2020 10:56

Starcom reports significant year-on-year growth

(Sharecast News) - Media agency Starcom expects full-year results to show a year-on-year improvement thanks to some significant revenue growth throughout the period.

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12 Dec 2019 17:16

Starcom Expects Recurring Revenue To Grow; Receives New Order

Starcom Expects Recurring Revenue To Grow; Receives New Order

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12 Dec 2019 12:48

Starcom makes good operational progress in recent months

(Sharecast News) - Remote tracking, monitoring and protection technology provider Starcom updated the market on its recent progress on Thursday, reporting that it had achieved "good" headway across all fronts, cementing what the board called a "strong foundation" for sustainable future growth.

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31 Oct 2019 17:31

Starcom's Bosch Product Gets Approval From Swiss WorldCargo

Starcom's Bosch Product Gets Approval From Swiss WorldCargo

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19 Aug 2019 14:05

DIRECTOR DEALINGS: Starcom Boss Avi Hartmann Buys 2 Million Shares

(Alliance News) - Starcom PLC on Monday said Chief Executive Avi Hartmann purchased shares in the media company following a transaction on Friday last week.Hartmann acquired 2.0 million at

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13 Aug 2019 10:23

Starcom Interim Loss Widens On Exchange Rate Losses, Revenue Flat

(Alliance News) - Tracking system company Starcom PLC said Tuesday its loss widened for the first half of 2019 due to currency headwinds, as revenue remained flat during the period.For the

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12 Aug 2019 11:37

Starcom Terminates Kylos Supply Agreement With Xplosive Solutions

(Alliance News) - Tracking system company Starcom PLC said Monday it has terminated its agreement with South African security firm Xplosive Solutions Pty Ltd.In February, Starcom entered an

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17 Jun 2019 09:49

Starcom Meets Market Forecasts; Revenue And Earnings Set To Grow

(Alliance News) - Starcom PLC on Monday said trading so far in 2019 is in line with market expectations and it is on track for expected revenue and earnings growth.Starcom develops wireless

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17 Jun 2019 08:42

Starcom pipeline grows as group progresses 'as planned'

(Sharecast News) - Wireless solutions developer Starcom told investors at its annual general meeting on Monday that it had progressed "as planned", with trading in its current financial year growing in line with market expectations.

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3 Jun 2019 15:36

Starcom Now Shipping To North African Distributor Following Payment

LONDON (Alliance News) - Starcom PLC said Monday it will now start shipping hardware to its North African distributor following receipt of a further payment from the contract it signed last the be

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24 May 2019 11:58

Starcom Appoints Martin Blair As Independent Non-Executive Director

LONDON (Alliance News) - Tracking systems provider Starcom PLC on Friday said it appointed Martin Blair as independent non-executive director of the company with immediate effect.Blair 15 a

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18 Apr 2019 10:38

WINNERS & LOSERS SUMMARY: Unilever Up After Posting Solid Sales Growth

LONDON (Alliance News) - The following stocks are the leading risers and fallers within the main London indices on Thursday.----------FTSE 100 - up 3.2%. The consumer goods giant said in a

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18 Apr 2019 09:20

Starcom To Raise Over GBP600,000 To Meet Product Demand (ALLISS)

LONDON (Alliance News) - Starcom PLC said Thursday it intends to raise GBP637,500 via subscription of shares to pay suppliers, meet product demand and for working capital purposes.The will

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5 Apr 2019 13:13

Starcom secures gains with key-less lock launch

(Sharecast News) - Starcom's shares soared on Friday as the company launched its new intelligent reporting padlock, now branded Lokies, which can be operated remotely and does not require a key.

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22 Mar 2019 09:16

Starcom eyes major container tracking deal following 'positive feedback'

(Sharecast News) - Starcom has received an expanded order from a customer for up to 30,000 of its Tetis shipping container tracking units over a three-year period.

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