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Gfinity narrows annual losses on cost cuts
StockMarketWire.com
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Esports and gaming solutions provider Gfinity reported narrower annual losses as cost cuts helped offset a decline in revenue.
For the year ended 30 June 2020, pre-tax losses narrowed to £8.2 million from £12.1m year-on-year revenue fell to £4.5m from £7.9m.
The company said its ongoing operating cost base was reduced by 50% following a major restructuring of business in March 2020.
The company said corporate strategic options including exploring a sale of the company was progressing as planned. 'It is at a very early stage but we look forward to exploring these options and to updating shareholders in due course,' it added.
At 9:38am: (LON:GFIN) Gfinity Plc share price was -0.25p at 3.75p
Story provided by StockMarketWire.com
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