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Be Heard losses narrow as margins improve

By BFN News | 02:39 PM | Monday 16 September, 2019


Marketing services provider Be Heard booked a narrower first-half loss after a new management team worked to cut costs. Pre-tax losses for the six months through June amounted to £1.7m, compared to losses of £3.8m on-year. Revenue rose 4.6% to £14.8m, while adjusted Ebitda rose to £1.6m, up from £0.7m. The company recently appointed Simon Pyper as chief executive and Ben Rudman as chief operating officer. 'The group's first-half results are satisfactory particularly given the prospects for the business twelve months ago,' chairman David Morrison said. 'The new management team ... has focused on operational effectiveness and margin improvement, and this emphasis has helped to deliver both improved operating margins and profitability.' 'Additionally, the business has over the past few months sought to address a number of structural issues such as reducing the liability under the group's various earnout obligations, improving the group's new business pipeline and the repositioning of its creative and influencer businesses.' 'We have been busy and have achieved a great deal, but there is, as ever, still much to do.' At 2:39pm: (LON:BHRD) Be Heard Group PLC share price was 0p at 0.8p Story provided by StockMarketWire.com

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