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Multi-redemption product provider Appreciate resumed its dividend and said it expected to swing to a second-half profit as performance continued to improve following the initial shock when lockdown measures were first introduced in March.
For the six months ended 30 September 2020, pre-tax losses widened to £6.2 million from £1.3 million year-on-year as revenue declined by 17.6% to £27.4 million.
Business from new clients was up 87% to £3.1m, while billings were down 16.9% to £66.6 million.
The company proposed an interim dividend of 0.4 pence, down from 1.05 pence a share.
The company said its critical Q3 trading period was progressing well with Christmas savings orders now fully completed.
'The first two months of the second half have seen us trade closer to 2019 levels, with a continued recovery expected to enable the significant swing in profitability the group typically sees in its important second half trading period,' the company said.
At 9:04am: (LON:APP) share price was 0p at 29.3p