Cost reduction15 Jun 2018 23:44
Following the decision to focus its US resources in the mid-west and south-eastern states, the operating costs in the US have been reduced. The operating cost reduction coupled with £0.1m increase in revenues has reduced the operating loss in the territory from £0.89m to £0.76m. The impact of the cost reduction in the US will be more significant in the second half of the financial year ending 30 September 2018 compared to the second half of the financial year ended 30 September 2017