Insig AI PLC (INSG.L), a service provider of data science and machine learning development solutions, Friday reported that its pre-tax loss for fiscal year ended March 31 narrowed from last year with a significant rise in the revenue.
The company further noted that the current year first-quarter organic revenue growth was 143 percent from last year to 0.2 million pounds.
On the London Stock Exchange, the stock was down 22.08 percent at 18.70 pence.
In the full year, Insig's pre-tax loss declined to 6.13 million pounds from loss of 17.53 million pounds in the same period last year. The prior-year results have been restated due to error related to the convertible loan notes, CLNs.
Loss for the year attributable to owners of the parent reduced to 4.76 million pounds from loss of 15.85 million pounds in the prior year.
Total loss per share was 4.09 pence, compared to loss of 15.8 pence last year. The company's loss per share from continued operations was 4.07 pence, narrower than loss of 16.01 pence a year ago.
The company's revenue from continued operations rose 43 percent to 0.53 million pounds from 0.37 million pounds last year.
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