On 26 September, Loqus Holdings plc published its half-year results covering the six months ended 31 December 2011 which were due to be published by end of February 2012. The results show a loss for the period of €36,305 compared to the loss of €387,946 registered in the previous year. The reduction in the loss was due to the 18% increase in revenue to just under €2.1 million and the significantly lower amortisation charge in relation to the fleet management business which is still the subject of a proposed sale.
In the half-year report, the Directors also noted that the Group continues to encounter extremely difficult periods in terms of cash flow.
Looking ahead, the Directors explained that the coming months until June 2013 are expected to remain demanding.
Similar to the 2011 financial statements, the interim results were prepared on a going concern basis as the Directors have reasonable expectations that the Group will continue in operational existence for the foreseeable future. Nonetheless, the Directors again hinted that the realisation of the sale of the Fleet Management business is critical for the Group to remain in operational existence.
Download a copy of the Loqus Holdings plc December 2011 Half-Year Report