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I-nexus Global narrows annual losses on cost cuts
StockMarketWire.com
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Software company I-nexus Global narrowed annual losses as cost cuts offset a fall in revenue.
For the year ended 30 September 2020, pre-tax losses narrowed to £2.38 million from £4.33 million year-on-year, while revenue slipped to £4.08 million from £4.76 million.
Significant cost reduction measures were implemented through the year, reducing the monthly cost base by £400,000 by the year end to about £370,000, the company said.
'Our strategic focus for 2021 is to achieve repeatable, incremental sales, while operating within our financial means. All departments are focussed on projects to deliver this goal,' the company said.
At 9:36am: (LON:INX) Inexus Global Plc Ord 10p share price was 0p at 5.5p
Story provided by StockMarketWire.com
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