March 13, 2018 / 10:43 AM / 7 months ago

BRIEF-ECSC Group Records ‍FY Organic Revenue Growth Of 9.5 Pct ​

March 13 (Reuters) - Ecsc Group Plc:

* ‍FY ORGANIC REVENUE GROWTH OF 9.5% TO £4.12M (2016: £3.76M)​

* ‍FY EBITDA LOSS OF £2.92 MILLION (2016: £0.49 MILLION PROFIT)​

* ‍FY BASIC EARNINGS PER SHARE LOSS OF 37.7 PENCE (2016: LOSS OF 7.7 PENCE)​

* ‍”RATE OF REVENUE GROWTH HAS BEEN SIGNIFICANTLY LESS THAN EXPECTED IN OUR PLANS”​

* “‍OUR REVENUES AND PROFITS HAVE FALLEN SHORT OF LEVELS PLANNED AT IPO”​

* “‍IN RESPONSE TO THIS SITUATION, BOARD TOOK ACTION TO REDUCE COSTS, BRINGING DOWN OPERATING LOSSES AND RATE OF CASH BURN”​ Source text for Eikon: Further company coverage:

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