Trackwise Sees 1H Loss After Tax Widening, Revenue Slipping; Shares Fall

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By Joe Hope

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Trackwise Designs PLC shares fell Thursday after the company said it expects its first-half loss after tax to widen and revenue to slip, and that it swung to a pretax loss in 2021.

Shares at 0907 GMT were down 4.5 pence, or 10% at 40.0 pence.

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The UK-based company, which makes products using printed-circuit technology, said that for the first half of 2022, it expects to report a loss after tax of GBP1.8 million, widening from a loss of GBP570,000 in the first half of 2021.

Revenue for the first half is expected to slip to GBP3.8 million from GBP4.1 million.

The company said some client delays means that some revenue for 2022 won’t materialize, but that it still expects to see a further improvement on 2021.

The company also posted its 2021 results, swinging to a pretax loss for the year of GBP2.0 million from a pretax profit of GBP406,000 in 2020, though revenue rose to GBP8.0 million from GBP6.1 million.

Trackwise said it remains encouraged by its medium-term and long-term outlook.

Write to Joe Hoppe at [email protected]

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Credit: www.marketwatch.com /

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