St James House PLC - gaming, lotteries, and payment processing software provider - Reports revenue for the year to the end of January 2020 of GBP989,000, up from GBP938,000 reported for financial 2019. Pretax loss widens, however, to GBP4.3 million from GBP393,000 year-on-year, as total administrative expenses increase to GBP4.6 million from GBP3.5 million. Also, a year prior the company booked a GBP2.4 million profit from discontinued operations.
"The last year has been a difficult one for the Company, but we have also seen significant progress with the launch of the St Frances House legal services business and the consolidation of our payment activities within the St Danial House business," says Chief Executive Graeme Paton.
In a separate statement, St James House says it has agreed to sell its Market Access Ltd subsidiary to MDC Nominees Ltd for GBP1.00. The move follows Market Access's card issuing and e-wallet activities withdrawing from the European market. Therefore, St James House says it intends to integrate these services with a new provider to serve its European and international client base. Market Access has no ongoing trading activities.
Current stock price: 35.51 pence
Year-to-date change: shares suspended since the end of October 2020 and will remain suspended until publication of half-year results to the end of July 2020
By Evelina Grecenko; evelinagrecenko@alliancenews.com
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