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1Spatial books loss even as sales rise 5%
StockMarketWire.com
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Location data group 1Spatial reported a full-year loss after rising revenue was offset by expenses.
Pre-tax losses for the year through January amounted to £1.4 million, compared to year-on-year losses of £1.7 million. Revenue rose 5% to £24.6 million.
'We entered the 2021 financial year in a considerably improved financial and strategic position, following the successful conclusion of the three-year turnaround plan and were set for a year of growth,' chief executive Claire Milverton said.
'While the emergence of the coronavirus in early 2020 re-shaped the year for us, we are proud of how our teams responded and of the results delivered.'
'While the board remains aware of the need to manage potential risks arising from the Covid-19 pandemic, the strength of trading in the first two months of the year, increase in committed revenue and depth of the sales pipeline and positive market landscape provide the board with confidence in a successful year of growth ahead and exciting long-term future for 1Spatial.'
At 9:59am: (LON:SPA) 1Spatial PLC share price was 0p at 27p
Story provided by StockMarketWire.com
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