Catenae (AIM: CTEA), the AIM quoted provider of digital media and technology, announces that, following the announcement released by the Company on 18 July 2019, despite its investment and sales initiative, revenue in the second half of its financial year will be below management expectations. The Company’s targeted sectors are depressed with a reluctance to commit to investment, especially in the wider context of the economic slow-down and current political uncertainty with regards to Brexit.
Consequently, losses for the year will be higher than expected. However, given the recent corporate restructuring and a resultant significant lowering of overheads, the Board is confident in the future of the business.
The Company continues to carefully manage its working capital position and will need to raise further capital in the near future. Further announcements will be made in due course.