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Gfinity PLC - London-based e-sports and gaming services - For the year that ended on June 30, pretax loss widens to £4.2 million from £4.1 million the year before, as revenue is down 7.0% to £5.3 million from £5.7 million. Other income falls to £1,529 from £54,354. Closing year-end cash stands at £2.1 million.
Looking ahead, says the esports and gaming sectors continue to grow, forming part of a systematic change in the media industry towards digital, streamed and gaming related content.
Chief Executive Officer John Clarke says: ‘The transformation of Gfinity’s business model is now well underway. It is delivering improved financial performance and we continue on a pathway towards profitable growth.’
Current stock price: 0.58 pence, down 42% on Friday morning in London
12-month change: down 83%
By Xindi Wei, Alliance News reporter
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