Starcom PLC – Interim Results

Starcom PLC – Interim Results

Starcom (AIM: STAR) which specialises in the development of wireless solutions for the remote tracking, monitoring and protection of a variety of assets, announces its unaudited interim results for the six months ended 30 June 2019 (the “Period”).

Highlights

·    Revenues for the Period remained stable at $3.1m (H1 2018: $3.1m)

·    Gross profits were $1.26m (H1 2018: $1.23m)

·    Gross margin increased to 41% (H1 2018 40%)

·    EBITDA increased to $75,000 (H1 2018: $40,000 EBITDA loss)

·    Recurring Software as a Service (“SaaS”) revenues were $900,000 (H1 2018: $890,000)

·    Lokies, Starcom’s new intelligent padlock, has been launched

Avi Hartmann, CEO of Starcom, commented:

 

“Although the first half revenues were in line with the equivalent period last year, we are confident that, based on the Company’s current sales pipeline, the second half of the year will show an improvement over the second half of 2018. It is pleasing to note that we achieved a positive EBITDA result for the Period and we expect that this will also be the case for the full year. Initial orders for the new Lokies smart padlock are encouraging and we have high expectations for this new product.”

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