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Sorted Group Holdings PLC - Manchester-based operator of a delivery experience platform - In the first half ending June 30, pretax loss narrows to £3.4 million from £6.6 million. Revenue falls 2.7% to £3.2 million from £3.3 million, while cost of sales decline 8.9% to £1.2 million from £1.4 million. Administrative expenses fall 35% to £3.7 million from £5.6 million. Amortisation and depreciation costs drop 46% to £1.5 million from £2.7 million.
Chair Simon Wilkinson says: ‘We have reduced costs in back-office functions such as HR, internal IT, Finance, and Legal, as well as property and office expenses. These savings have been strategically reinvested in front-office areas, particularly in expanding our Sales team and enhancing our Software Development teams.’
Current stock price: 70.25 pence
12-month change: down 51%
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