RNS6 Jun 2018 13:28
Final results are out
Group recorded revenues of US$1,011,682 during the year ended 31 December 2017 (2016: US$862,988) generating a gross profit of US$896,548 (2016: US$593,079). Cost of sales expenses in the previous year included $105k relating to Aero Kinetics LLC (a subsidiary company) which were not incurred in 2017, this improved the gross profit margin in 2017. Administrative costs in 2017 were reduced from 2016 with the majority of savings made by cutting staff and consultancy costs in non-value-added business areas. The loss for the year to 31 December 2017 after taxation was US$2,513,293 (2016: US$3,524,476).
Not had chance to read the RNS properly as yet and going out now but will be reading it in detail later on