Ten Alps First Half Loss Flat

LONDON (Alliance News) - Ten Alps PLC said Monday it believes it is "on the right track" and reiterated expectations that it will meet its internal guidance, as it posted a flat pretax loss for the first half of its financial year as lower costs offset a revenue decline.

The television and radio producer and publisher posted a pretax loss of GBP998,000 for the half year to end-December, in line with the pretax loss of GBP933,000 it posted a year earlier, as a decline in revenue to GBP10.2 million from GBP11.7 million was offset by lower operating costs.

The decline in revenue came from a 24% decline in its publishing division. Gross margin declined to 29.94% from 31.73%, due to the operational reclassification of cost of sales in some of its business units.

It said it has continued to make progress in the refocussing of the business, and highlighted "encouraging" forward bookings in television, growth in digital and events revenue and new business wins in digital content marketing.

Following the year end, the company's digital content marketing and communications arm won a contract renewal with Transport for London for its digital road safety campaigns. The contract is worth over GBP1 million per year, and will run for a minimum of three and a half years.

Shares in Ten Alps are trading up 0.7% at 0.680 pence Monday afternoon.

By Hana Stewart-Smith; hanassmith@alliancenews.com; @HanaSSAllNews

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