LONDON (Alliance News) - Ten Lifestyle Group PLC said Tuesday it swung to a loss in the first half of its financial year due exceptional costs related to the company's AIM listing last November.
The technology-enabled lifestyle and travel platform reported pretax loss of GBP4.8 million for the six months to February 28 from a profit of GBP57,000 in the same period a year ago.
The company said the reported loss was better than expected before the AIM listing.
Operating loss, including exceptional costs related to the listing, reported for the first half of 2018 was GBP3.8 million while, in the same period in 2017, it was GBP327,000.
Ten Lifestyle revenue in the half-year was GBP18.2 million, up 5% from GBP17.4 million year-on-year.
The company said it expects net revenue growth in the second half of 2018 driven by new business wins.
Shares in Ten Lifestyle Group were trading down 1.5% at 96.5 pence.
Ten Life (TENG)