StockMarketWire.com - Cambridge Cognition said it expected to report wider losses following lower revenues in the first half of the year and increased costs.

The loss for the year was expected to be in the region of £2.80m, compared with a loss of £1.44m a year earlier, largely due to the reduction in revenue and a 30% increase in R&D investment, the company said.

The guidance comes as the company reported wider losses on lower revenues in the first half of the year.

For the six months ended 30 June, losses widened to £1.74m from £1.03m and as revenues fell to £2.17m from £2.75m.

The company reported a 'strong' order book at £6.34m for the first half, up from £5.95m a year earlier.

'Whilst trading has been difficult this year for the core product range, the Company is taking steps to improve commercialisation and to improve sales in the second half of 2019 and beyond into 2020,' the company said.




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