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04 Sep 2019 | 09:46

CyanConnode posts narrower half-yearly losses as cost cuts offset fall in revenue

CyanConnode reported narrower half-yearly losses as efforts to cut costs offset a fall in revenue. For the six months ended 30 June 2019, pre-tax losses narrowed to £3.0m from £3.6m a year earlier even as revenue fell to £1.0m from £1.3m a year earlier. Operating costs were fell to £3.5m from £4.6m a year earlier.

'We are currently working on a large number of tenders which we believe will result in substantial new contract wins for the Company by end of October and accordingly we anticipate that the outcome for the year will be in line with market expectations,' the company said. At 9:46am: (LON:CYAN) CyanConnode PLC share price was -0.3p at 3.75p

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