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Maestrano makes first-quarter loss as costs offset higher sales
StockMarketWire.com
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Transport corridor analytics group Maestrano posted an operating loss for the first quarter after rising revenue was offset by increased investment spending.
Earnings before interest, tax, depreciation and amortisation for the three months through September amounted to £0.35 million, compared to losses of £0.32 million year-on-year.
Revenue rose to £0.44 million, up from £0.10 million.
'The business has performed very well in our first fiscal quarter, driven by strong uptake and user acceptance from our major rail corridor analytics contracts, together with excellent results from our Nextcore distributors around the world,' sales head Nick Smith said.
'There are positive sales discussions in progress across our major markets, leveraging the technology benefits already achieved.'
'We are engaging with both new and existing clients, demonstrating and delivering solutions, helping to improve safety and reduce operating costs.'
At 8:00am: (LON:MNO) Maestrano Group Plc Ord 1p share price was 0p at 10p
Story provided by StockMarketWire.com
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