StockMarketWire.com - Self-driving vehicle technology group Seeing Machines posted a deeper annual loss after it was hurt by supplier delays and cost overruns.

Pre-tax losses for the year through June amounted to $36.0m, compared to losses of $29.7m on-year.

Revenue more than doubled to A$30.7m, but the rise was offset by a jump in expenses.

The company had previously warned that supply shortages of certain components coupled with higher-than-expected production costs would hurt margins in the 2018 financial year.

'Current expectation are for 2019 financial year revenue approximately in line with 2018, reflecting transition in the fleet business model and the growth expected in automotive and other divisions,' the company said.


At 9:22am: [LON:SEE] Seeing Machines Ltd share price was -0.22p at 6.6p



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