By Michael Susin
SpaceandPeople shares fell after the group reported a widened pretax loss for the first half of 2023 on the back of higher costs.
Shares at 0702 GMT were down 12.5 pence, or 13%, at 82.5 pence.
The U.K. marketing specialist said Monday that pretax loss for the six months ended June 30 was of 424,000 pounds ($519,018) compared with a loss of GBP377,000 in the same period a year ago.
The group reported an operating loss of GBP355,000 from GBP320,000 on the back of increased expenses.
However, revenue rose 5% to GBP2.5 million. The increase was supported by German retail, up 38% to GBP801,000, but was partially offset by a 23% decline in U.K. retail revenue to GBP468,000.
“We enter the second half of the year with confidence, as we have put in place the venue infrastructure, the products and the personnel to ensure that we can maximize the opportunities available to us during the busiest and most profitable period of the year,” the company said.
Write to Michael Susin at [email protected]
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