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Maestrano losses narrow as staff cuts offset 27% revenue slide

By BFN News | 02:09 PM | Wednesday 19 February, 2020


Transport analytics group Maestrano posted a narrower first-half loss after it offset falling sales by cutting employee costs. Pre-tax losses for the six months through December amounted to £0.39m, compared to losses of £1.30m on-year. Revenue fell 28% to £0.32m following the completion of implementation projects. 'The company has spent significant time integrating operations and preparing for future opportunities and is now looking forward to progressing these in 2020 and beyond,' chief executive Andrew Pearson said. 'Although the company is not currently generating revenues from its banking, accounting and distribution verticals, it is looking at a number of options to rebuild its activities in these segments.' 'In addition, the Airsight business gives the company new technologies and new markets in infrastructure and transportation.' At 2:09pm: (LON:MNO) Maestrano Group Plc Ord 1p share price was -0.6p at 1.85p Story provided by StockMarketWire.com

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