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Tungsten widens FY pretax loss

By BFN News | 09:01 AM | Monday 25 July, 2016

Tungsten Corporation has widened its FY pretax loss to £28.6m, from a loss of £27.9m. Revenue was £26.1m, from £22.5m. CEO Richard Hurwitz commented: "We are building momentum in our business through our strategy of focusing on profitable growth and I am encouraged by the progress we have made in implementing significant organisational improvements to elevate Tungsten's performance. "Evidence of our progress is displayed in the talent we have attracted, our improved contract pricing, the value-added new buyers who have joined our network, the resizing of costs to match our tangible opportunities, and our strengthened balance sheet. "Tungsten Network processes invoices for 70% of the FTSE 100 and 72% of the Fortune 500 and we are committed to helping these and other businesses do business better." At 9:01am: (LON:TUNG) Tungsten Corporation share price was -0.87p at 43.13p Story provided by

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