Adept4 pre-tax losses rise

Adept4 posts a pre-tax loss of £1.4m for the year to the end of September - up from £477,000 in 2015.

The loss for the period and total comprehensive loss from continuing operations attributable to the equity holders of the parent was £1.3m against a loss of £477,000 last time.

The group made a profit of £725,000 from discontinued operations against a loss of £775,000 a year ago and the the loss for the period was £599,000 compared with £1.2m in 2015.

Executive chairman Gavin Lyons said: "Over the last 12 months we have fundamentally changed the shape of the business through a series of acquisitions, disposals and fundraisings. We exit the year with the turnaround activity complete and a solid platform to continue to build on. We have substantially improved our operating position, have high levels of recurring revenue, cash in the bank and a team of people that have worked incredibly hard and diligently to deliver against our plans. I would like to thank everyone for their contribution during the period and look forward to building on our solid foundations to ultimately deliver further shareholder value."

At 9:25am: (LON:AD4) Adept4 Plc Ord 1p share price was +0.38p at 8.13p