Loqus Holdings plc - Half-Year Results

Monday, April 15th, 2013

On 12 April, Loqus Holdings plc published its half-year results covering the six months ended 31 December 2012. During this period, the Loqus Group incurred a 21% drop in revenues to €1.6 million reflecting the hardware sales registered in the previous comparable period. The drop in income was largely compensated for by a 22% drop in operating expenses to €1.5 million leading to a 10% decline in earnings before interest, tax, depreciation and amortisation (EBITDA) to €0.12 million.

The 23% reduction in the Group’s depreciation charge to €0.2 million was counterbalanced by the 45% increase in finance costs to €0.16 milion. This resulted in an unchanged loss for the period under review of just below €0.3 million.

The Directors explained that the search for suitable business partners to acquire components of the Group’s business is still on-going. Such acquisitions should help the Group grow. Furthermore, the Directors explained that the immediate priority for the Group remains that of achieving profitability whilst supporting its cash flow position.

Print This Page Print This Page