Mobile Tornado (GB:MBT) has released an update.
Invest with Confidence:
- Follow TipRanks' Top Wall Street Analysts and uncover their success rate and average return.
- Join thousands of data-driven investors – Build your Smart Portfolio for personalized insights.
Mobile Tornado Group PLC, a provider of enterprise mobile resource management solutions, reported a slight decrease in total revenue for 2023, down 1% to £2.27m, with a notable 34% increase in non-recurring revenues and a reduced operating loss from £0.72m to £0.29m. The company’s strategy to expand its market presence has led to new partnerships and an equity fundraise of £500k, aiming to drive future sales growth despite a net debt of £10.67m. No dividends will be distributed as the company plans to reinvest earnings to fuel growth, showing promise with a lowered loss after tax and a focus on increasing recurring revenue streams.
For further insights into GB:MBT stock, check out TipRanks’ Stock Analysis page.
