Vitesse Media posts dip in revenue, widens first half loss

(ShareCast News) - Vitesse Media has posted a dip in revenue for the first half of the year, leading to a wider loss than 2014.The AIM listed business-to-business media company released its interm results for the six months to 31 July on Friday.It noted that revenue had dropped from £1.04m to £0.83m after it cut two one-off managed events to concentrate on its own higher margin business.The company also shifted its Techinvest Manchester event from July to September, shifting any revenue from the event to the second half of the year.As a result the company reported a wider loss of £125,000 for the period then the £72,000 loss last year.The company said that while there are inevitable challenges ahead believes that the outlook for the remains positive and it is confident it will meet its targets for the year.