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Marketing company Mporium Group said its annual losses doubled after its revenue more than halved.
Pre-tax losses for the year through December amounted to £7.7m, compared to losses of £3.9m on-year.
Revenue fell 54% to £0.9m as the company decided to focus on its performance-led MporiumX division following weak results at its agency business.
'As a result of the recently announced restructuring, the group will refocus on the performance-led MporiumX division, with particular emphasis on the sports and consumer regulation sectors,' Mporium said.
'The development of Impact in 2019 will be significantly curtailed to reflect the reduced focus of the group and to enable a reduction in the overall cost base.'
'The group is currently undertaking a strategic review of its legacy FWM business, to determine the appropriate course of action.'
At 8:25am: (LON:MPM) Mporium Group Plc share price was +0.03p at 0.96p