LONDON (Alliance News) - Digital audience engagement software firm Immedia Group PLC said Thursday its interim loss narrowed as revenue rose as the outlook remains positive for further growth into 2019 and beyond.
For the six months ended June, pretax loss narrowed to GBP35,220 from GBP188,225 the year prior. This was as revenue rose to GBP2.0 million from GBP1.8 million the year before.
"I am pleased to report that the group has made good progress during the first half," Immedia Chief Executive Officer Bruno Brookes said.
"Strengthened relationships with existing clients, new business coming on stream and the impact of cost control measures implemented in 2017 have combined to substantially turn around below par 2017 results," Brookes added. "We are engaged at a senior level with companies in all our strategic pillars of retail, sport, education and workforce. Our innovations are working in alignment with our strategy to transform our client companies into media owners rather than media buyers."
"We expect the positive progress this year to continue in the second half and are focused on maintaining growth and momentum into 2019 and beyond," Brookes continued. "The outlook is positive."
Shares in Immedia were 9.1% lower at 25.00 pence on Thursday.