StockMarketWire.com - Simulation training group SimiGon warned it would post a deeper annual loss, partly owing to costs associated with work provided for the US and Israeli air forces.

Net losses for the year through December were expected to come in at around $1.46m, compared to losses of $1.01m on-year.

Revenue was seen falling to $4.88m, down from $5.03m.

SimiGon reiterated that its revenue costs had increased, mainly as a result of the purchase of hardware costing $0.77m, provided as part of programs with the US Air Force and Israeli Air Force.

'In addition, the company has maintained its strategic decision during the period and continued to invest in R&D and marketing in order to ensure that the company is able to capitalize on the market opportunities available to it,' it added.

A doubtful debt provision had decreased to $0.45m.


At 8:59am: [LON:SIM] SimiGon Ltd share price was -1p at 6.5p



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