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Webis losses narrow as sales jump 50%

By BFN News | 09:04 AM | Wednesday 26 February, 2020


California race track operator Webis posted a first-half loss after rising revenue was offset by sales and operating costs. Pre-tax losses for the six months through November amounted to $0.21m, compared to losses of $0.59m on-year. Revenue rose by almost 50% to $8.0m. 'I am pleased to report that performance has been a little above expectation across our key sectors from December to the time of writing,' chairman Denham Eke said. 'We have seen particularly good performance from our business-to-consumer unit and the racetrack in California.' 'Whilst the final quarter of the year will be very important during peak racing season in the US and internationally, at present the board are positive that the momentum can be maintained to end May 2020 and beyond.' At 9:04am: (LON:WEB) Webis Holdings PLC share price was +0.1p at 1.75p Story provided by StockMarketWire.com

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