LONDON (Alliance News) - Toumaz Ltd Monday said it remains on course to continue to grow its business in its second half, as it expects to post a rise in revenue for its first half.
The wireless semiconductor technology provider said it expects to post an earnings before interest, tax, depreciation and amortisation loss of GBP5.5 million for the half year to end-June, narrowed slightly from an Ebitda loss of GBP5.6 million the year before.
It expects to post revenue of GBP14.0 million, up from GBP10.8 million a year before.
In its digital audio division, revenue rose 34% in the first half, which offset lower revenue in its healthcare division.
"Overall, given the strong performance by Digital Audio, we remain on course to continue to grow the business in the second half of the year," said Chief Executive Officer Anthony Sethill in a statement.
Shares in Toumaz were down 3.5% at 3.50 pence Monday morning.
By Hana Stewart-Smith; hanassmith@alliancenews.com; @HanaSSAllNews
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