LONDON (Alliance News) - Ten Alps PLC Tuesday said it remains confident of delivering its first full year profit despite staying in the red in the first half.
The TV and multimedia content producer reported a GBP354,000 pretax loss in the six months to the end of 2015, following the GBP998,000 loss booked in the same period a year earlier despite revenue experiencing a material lift.
Revenue increased to GBP12.1 million from GBP10.2 million, but its gross profit only rose slightly to GBP3.7 million from GBP3.0 million a year ago. The loss before interest, tax, depreciation and amortisation amounted to GBP355,000 in the first half, narrowing from the GBP642,000 loss a year earlier.
"We are delivering on our strategy of focussing the TV business on higher-value series and formats and developing a stronger communications and corporate story-telling business. We see encouraging signs of a growing pipeline stretching into the next year and remain confident that the group is making good progress towards its objective of returning to profitability in the current financial year," said Chief Executive Mark Wood.
Ten Alps shares were untraded on Tuesday morning, last trading at 1.75 pence.
By Joshua Warner; joshuawarner@alliancenews.com; @JoshAlliance
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