StockMarketWire.com - Dillstone Group losses increased to £0.3m from £0.2m as revenue also declined to £4.2m from £4.5m, as announced in the company's half year report for the period ending 30 June 2019.

The company said that it is now beginning to see the results of the reorganisation and recurring revenue had grown to 83% of revenue from 81% in the prior period.

Commenting on the results and prospects, Mike Love, Non-Executive Chairman, said:

'The reorganisation and transfer of operations to Basingstoke is progressing to plan and we are on track with delivering the anticipated cost savings and improved efficiencies within the business.'

'We anticipate that our two largest divisions, Dillistone Systems and Voyager Software, will both be profitable in 2019. GatedTalent is now enjoying month on month revenue growth and while - as expected - it will be loss making in the full year, we anticipate that it will make a profit at EBITDA level (before group charges) in the fourth quarter.'

'We are confident that the Group will move back into sustained profitable trading with positive cashflows next year. However, with the continuing uncertainty over Brexit in the UK, and ongoing economic uncertainty in the wider world, the group does expect revenue to be down on its previous expectations and this will result in a loss in the year to 31 December 2019.'


At 8:50am: [LON:DSG] Dillistone Group PLC share price was -0.5p at 25.5p



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