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Harrogate-headquartered Mobile Tornado says its total revenue in the six-month period to June 30, 2021 declined 2% to £ 1.27million (H1 2020: 1.29 million pounds sterling).
Recurring revenue from the listed business, which provides instant mobile communication solutions to the enterprise market, increased 5% to £ 1.07million (H1 2020: £ 1.01million).
The company also reported a pre-tax loss of £ 378,000 (H1 2020: £ 835,000 loss).
Mobile Tornado highlights the cmaintained the resilience of its recurring revenue base in the face of a challenging global business environment.
And he notes that he closed likeimportant agreement in Colombia with a global security company.
It adds new operational efficiencies to the platform which reduced its total operating expenses and enabled the company to post a positive EBITDA result of £ 0.01 million (H1 2020: loss of 0, £ 21million).
But he warns that the biggest challenge he has faced over the past 18 months has been customer engagement and new customer acquisition, due to travel restrictions imposed by COVID-19.
Jeremy Fenn, President, said: “This problem has been particularly acute in two of our main markets, South America and Africa.
“The strength of our customer base, technical platform and recurring revenue streams allowed us to trade throughout the period without incurring material losses or requiring additional cash injections. Considering the relative size of our business, this is a notable achievement.
“Despite the hardships it has caused us, the COVID-19 pandemic has positively impacted the workforce management market, leading to digitization and automation across all industries. worldwide.
“As a result of the disruption that has been caused, many companies have identified the need to improve employee time management, attendance and scheduling processes, thereby increasing the efficiency of their workforce.
“We have reached a position where the cost base is largely covered by core recurring revenue, and we are now seeing increasing levels of activity.
“Hopefully we can see some revenue growth in the second half of the year as we continue to engage with significant prospects in all key markets.”