RE: We1 Nov 2018 09:42
Board are confident that the Group will achieve profitability for the year ending 31 December 2019, albeit at a lower margin than previous expectations, and is in the process of preparing detailed budgets.
A further announcement will be made as appropriate.
Bobby Kalar, Chief Executive Officer, commented:
"As founder and majority shareholder, nobody is more disappointed in this development than me. Our booked revenue from new sales remains strong and contracted revenue for 2019 is already GBP67 million as at the end of September 2018. We have improved internal controls around working capital management and the Board is absolutely focused on restoring the profitability of the business."