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Marketing and media consultancy Ebiquity said it expected to return to profit in the second alf of the year barring no impact to the ongoing improvement in advertising expenditure.
The company reported narrower losses in the first half of the year as cost cutting helped offset a fall in revenue.
For the six months ended 30 June 2020, pre-tax losses were £1.7 million compared with a loss of £4.2 million year-on-year as revenue fell £8.6 million to £26.8 million.
The company said its cost cutting measures had reduced operating costs by 12% to £28.1m.
Barring no impact to an ongoing improvement in advertising expenditure, the company said it expects to improved revenue in the second-half compared to the first six months. 'This should lead to a return to profitability in the second-half and to being at or close to break-even for the year as a whole, which would be a creditable result given the very challenging year that 2020 has been,'it added.
At 9:10am: (LON:EBQ) Ebiquity PLC share price was -5.95p at 17.25p