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Immotion reports wider losses; sees disruptions continuing for 'some time'

By BFN News | 08:00 AM | Friday 26 June, 2020


Virtual reality services provider Immotion reported wider losses on higher costs and roughly unchanged revenue following Covid-19 disruptions to operations. For the year ended 31 December 2019, pre-tax losses widened to £5.5m from £3.8m on-year, while revenue rose to £3.62m from £3.61 on-year, with revenue in its VR operations up 221% to £2.9m. Administrative expenses jumped to £6.5m from £4.3m. 'The period since mid-March has been extremely challenging and we expect continued disruption for some time to come,' the company said. 'We will remain focused on costs and working with key partners as the recovery takes hold,' it added. At 8:00am: (LON:IMMO) Immotion Group Plc share price was 0p at 2.65p Story provided by StockMarketWire.com

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