|
Smarter Web Co PLC on Friday reported a widened interim loss for the first half of financial 2025, but said the results do not reflect the company’s current scale and progress following its listing on the Aquis Stock Exchange in April. The Surrey, England-based provider of web design, web development and online marketing services posted a pretax loss of £719,566 in the six months that ended April 30, widening from £372,640 a year earlier. Administrative expenses were reduced to £207,221 from £372,556, but this was offset by £173,046 in other expenses and a steep rise in finance costs to £339,299 from just £84. Loss per share deepened to 0.97 pence from 0.53p. Shares in Smarter Web were down 5.8% to 205.00 pence on AQSE on Friday morning. Chief Executive Officer Andrew Webley said the figures largely reflect activity before its IPO, calling the results ‘a regulatory requirement’ that offer ‘limited insight’ into the firm’s current scale and strategic direction. Since listing, Smarter Web has raised over £100 million in equity capital, holds no debt, and maintains over £1 million in cash. It has also ramped up its bitcoin-focused treasury strategy, most recently buying 225 bitcoin for £19.6 million at an average price of £87,096. The company now holds 1,825 bitcoin worth around £160 million, and claims a 30-day yield of 189% on its BTC treasury. Bitcoin, Webley said, remains ‘the best asset the world has ever seen’. Smarter Web is ‘only at the beginning of a long-term growth journey’, the CEO said, and is optimistic about future opportunities, including through acquisitions. In the period prior to its listing, Smarter Web generated turnover of £176,000 and a modest net profit of £93,000. The company reaffirmed its focus on growing its web design, development, and marketing business, while pursuing acquisitions that align with its recurring revenue model. Copyright 2025 Alliance News Ltd. All Rights Reserved.
|
