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Catalyst Media annual losses widen on writedown in Sports Information Services
StockMarketWire.com
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Marketing company Catalyst Media reported wider annual losses after taking an impairment hit of £1.2 million on the writedown of its investment in Sports Information Services.
For the year ended 31 March 2020, pre-tax losses widened to £1.1 million from £0.6 million, and revenue fell to £212,593 from £241,404.
The loss included an impairment charge of £1.2 million of the company's carrying value of its 20.5% stake in Sports Information Services.
'The disruption to racing since mid-March 2020, together with the closure of licensed Betting offices at various stages during the year, has and continues to impact on SIS's trading in its current financial year,' the company said.
Story provided by StockMarketWire.com
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