StockMarketWire.com - Checkit reported wider losses in the first half of the year as higher costs offset a sharp uptick in revenue.

For the six months ended 31 July 2019, pre-tax losses widen to £3m from £2.2m a year earlier, while revenue increased to £4.4m from £1.6m a year earlier, with operating expenses rising to £4.4m from £2.9m.

The uptick in costs was related to the CUK acquisition costs and increases in investment in sales and marketing, product development and other costs, the company said.

The current focus was on integrating CUK and a successful separation of Bulgin, which the company sold earlier this year, during the 12 months transitional services period.

'Management is targeting EBITDA profitability in the medium term,' the company said.










At 9:32am: [LON:CKT] share price was -0.5p at 53.5p



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