LONDON (Alliance News) - IT and green technology company Ultima Networks PLC said its pretax loss in the first half widened on the back of a fall in revenue and a rise in costs in the period.
Ultima said its pretax loss for the six months to June 30 was GBP181,000, against a GBP140,000 loss a year earlier.
The loss came on the back of a fall in revenue in the period to GBP674,000 from GBP689,000 a year earlier, even as its cost of sales rose to GBP256,000 from GBP197,000.
Ultima reported a mixed performance from its operating units, with its IT Services arm reporting an operating profit in the period, but its Green Technology arm posting a loss on the back of a fall in sales of its electronic bicycles to mainland Europe.
Ultima shares were down 6.5% to 0.888 pence on Monday.
By Sam Unsted; samunsted@alliancenews.com; @SamUAtAlliance
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