Starcom posts first-half loss amid flat revenue
StockMarketWire.com - Remote tracking specialist Starcom posted a first-half loss after flat revenue was more than offset by R&D, marketing and administration expenses.
Pre-tax losses for the six months through June amounted to $0.51m, compared to losses of $0.48m on-year.
Revenue was stable at $3.1m and Ebitda rose to $75k, up from a $40k loss.
'Although the first-half revenues were in line with the equivalent period last year, we are confident that, based on the company's current sales pipeline, the second half of the year will show an improvement over the second half of 2018,' chief executive Avi Hartmann said.
'It is pleasing to note that we achieved a positive Ebitda result for the period and we expect that this will also be the case for the full year.'
'Initial orders for the new Lokies smart padlock are encouraging and we have high expectations for this new product.'
At 9:27am: (LON:STAR) Starcom PLC share price was -0.1p at 1.1p
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