Catenae losses widen as Brexit uncertainties depress target sectors
By Iain Gilbert
Date: Wednesday 11 Sep 2019
(Sharecast News) - Digital media and technology group Catenae Innovation warned on Wednesday that full-year losses looked set to widen after second-half revenues came in below expectations.
Catenae said that despite having made investments and launching sales initiatives throughout the half, its targeted sectors were "depressed" with a reluctance to commit given the economic slowdown across the UK and Brexit worries.
The AIM-listed group also cautioned that given the decreased revenues, losses for the full year would be "higher than expected".
However, given its recent corporate restructuring and a significant lowering of overheads, Catenae's board said it was "confident" in the future of the business.
"The company continues to carefully manage its working capital position and will need to raise further capital in the near future," added Catenae.
As of 0815 BST, Catenae shares had tumbled 56.57% to 0.015p.
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