Loqus Holding plc – Announces approval of annual financial statements

Loqus Holdings plc announced the annual financial statements for the year ended 30 June 2016.The group registered a profit before tax of €269 thousand, compared to the loss of €56 thousand in 2015. Revenue for the decreased by €287 thousand to €3.9 million, marking a decline of 6.9 per cent over the same period in 2015.

The increase in profit despite the lower revenue figures comes as a result of the group’s strategy to lower the cost base. The cost base reduction is a result of decreases in costs related to; purchases, personnel expenses and administrative expenses. The group reduced its cost base by €437 thousand from the previous financial year. The group’s earnings per share increased from €0.002 in 2015 to €0.008 for 2016. 

To view the full announcement, click here.