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Annual Results

1Spatial posts wider FY pretax loss

23 May 2017 07:47

1Spatial has posted a wider FY 2017 pretax loss of £15.7m, from a loss of £1.1m, and noted that Q1 2018 trading in has been strong.

Executive chairman Andy Roberts said 1Spatial was well-positioned in a very viable and interesting part of the market and had developed a unique patented technology that it now needed to fully extend and exploit.

"We have a strong management team, which combined with our in-depth subject matter expertise and technology-led solutions and services, gives the business the opportunity to develop into a significant force in the market.

"Early trading in Q1 2018 has been strong, and our workforce is fully informed, motivated and energised.

"This financial year is focused on establishing a sound growth platform for the future, in order to fully maximise the opportunity presented by our technology and leverage the key partnerships that we are now fully engaged with.

"I am confident that we are now well placed to grow a substantial, profitable and cash-generative business out into the future."

Revenue was £22.1m, from £18.3m. Operating loss was £15.5m, from a loss of £673,000.

Story provided by StockMarketWire.com

Related Company: SPA

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