Adept4 plc (AIM: AD4), the AIM quoted provider of IT as a Service, today announces its unaudited interim results for the six months ended 31 March 2019.
- Revenue for the period of £4.2 million (H1 2018: £5.4 million);
- Trading Group EBITDA1 of £15,000 (H1 2018: £0.5 million);
- Loss for the period of £1.1 million (H1 2018: £0.8 million);
- Net debt2 at 31 March 2019 of £3.4 million;
- Significant reduction in costs at end of period following decision to focus more on existing customer base with less emphasis on new business generation;
- Return to modest levels of monthly Trading Group EBITDA profitability;
- Strategic review nearing conclusion.
Simon Duckworth, Non-Executive Chairman of Adept4, commented:
"Having returned the business to modest levels of monthly Trading Group EBITDA profitability with a reduced cash burn after plc and debt service costs, the Board has more recently been able to focus on taking positive steps to return the business to growth. Good progress has been made in this regard and we look forward to updating shareholders on our future plans in due course."