Big Technologies plc(BIG.L), Tuesday reported moving to a pre-tax loss, mainly due to administrative expenses, including litigation provisioning and exceptional foreign exchange loss in anticipation of an acquisition. Additionally, revenues declined during the same period.
The firm reported a pre-tax loss of 25.71 million pounds compared with a profit of 4.04 million pounds in the prior year.
The firm reported a loss of 28.84 million pounds compared with a profit of 3.94 million pounds in the prior year.
On a per share basis, the firm moved to a loss of 10 pence compared to a profit of 1.3 pence a year ago as a result of the provisioning to ongoing litigation as reported by the firm.
Adjusted Basic Earnings per Share decreased to 3.2 pence from 4.1 pence a year ago.
In the half year, the firm reported moving to a operating loss of 27.14 million pounds from 2.41 million pounds a year ago.
Adjusted EBITDA declined to 12.51 million pounds from 14.31 million pounds a year ago. Administrative expenses expanded to 43.88 million pounds from 16.13 million pounds in the last year.
Revenue declined to 24.80 million pounds from 26.48 million pounds in the prior year.
In addition, the company stated that it expects foreign exchange headwinds to impact revenues and EBITDA in the current and future periods.
On the London stock exchange, the shares are trading 0.48 percent lower at $83.20.
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