- TechFinancials reported narrower losses in the first half of the year despite a fall in revenue.

For the six month period ended 30 June 2019, pre-tax losses narrowed to $1.07m from $1.11m a year earlier and revenues fell to $2.07m from $3.78m.

But the operating loss for the period widened to $1.12m from $0.84m a year earlier, with the company blaming the increase in losses on revenues reducing quicker than expenses. The company said its focus had been placed on its subsidiary Footies, a disruptive blockchain based ticketing venture for sports clubs and teams.

'The Company has continued to support Footies Ltd and has committed to further finance the venture by providing an additional minimum of US$225,000. This will bring the total to date to US$725,000, with the funds to be used for product and business development,' TechFinancials said.

At 9:11am: [LON:TECH] TechFinancials Inc share price was +0.1p at 4.15p

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