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Tungsten Corporation losses narrow as margins improve

By BFN News | 02:44 PM | Monday 04 June, 2018


Tungsten Corporation said its annual operating losses narrowed in the year through April after it hit a monthly break-even point in the second half. In a trading update ahead of the release of its full-year results, the company said its Ebitda loss narrowed to £4.6m, down from £11.8m on-year. Revenue grew 9% on a constant currency basis to £33.7m, while the gross margin improved by 30 basis points to 93.1%. '"Our focus now will be to capitalise on the operating leverage that we have created in order to generate positive cash flow and drive returns for our shareholders,' chief executive Richard Hurwitz said. 'Our aim is to achieve this by providing value to existing and new customers through our efficiency-enhancing, digital platform while innovating to deliver new services competitively.' At 2:44pm: (LON:TUNG) Tungsten Corporation share price was -2.5p at 52.4p Story provided by StockMarketWire.com

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