StockMarketWire.com - Technology consultant The Panoply booked a full-year loss, as expenses including staff costs offset rising revenue.

Pre-tax losses for the year through March amounted to £1.6m, compared to losses of £0.5m on-year.

Revenue rose 42% to £22.1m.

Adjusted Ebitda rose 30% to £3.5m, which the company said was ahead of market expectations.

'I am very pleased to be reporting our first year end results as a public company, delivered ahead of our expectation at the time of our IPO in December 2018,' chief executive Neal Gandhi said.

'We are very excited by the opportunity ahead, particularly as we begin to combine our offerings into specific vertical markets.'

'We are beginning to reach critical mass in the public sector, health and not for profit sectors and at the same time are beginning to win substantially larger commercial sector clients.'

'All of this bodes well for continued organic growth across the group.'

'At the same time, we continue to focus on M&A that strengthens our business.'

'As a result of both strategies running in parallel, we are confident that the group will be able to sustain momentum over the year and achieve market expectations for FY2020.'


At 8:23am: [LON:TPX] share price was 0p at 97.5p



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