Frontier Smart Technologies Group Limited reported unaudited consolidated earnings results for the six months ended June 30, 2018. For the period, the company reported revenue of GBP 17,042,000 compared to GBP 24,966,000 a year ago. LBITDA was GBP 2,110,000 compared to EBITDA of GBP 1,386,000 a year ago. Loss before taxation was GBP 4,491,000 compared to GBP 925,000 a year ago. Operating loss was GBP 4,098,000 compared to GBP 745,000 a year ago. Loss for the period was GBP 4,645,000 compared to GBP 1,536,000 a year ago. Basic loss per share from continuing operations was 10.86 pence compared to 3.59 pence a year ago. Net cash outflow from operating activities was GBP 6,288,000 compared to net cash inflow used in operating activities of GBP 3,180,000 a year ago. Purchase of property, plant and equipment was GBP 397,000 compared to GBP 126,000 a year ago. Purchase on intangible assets was GBP 37,000 compared to GBP 27,000 a year ago. Adjusted EBITDA loss was USD 2.1 million compared to EBITDA of USD 1.4 million a year ago.

The Board anticipates an improved second half and the achievement of full year market expectations for EBITDA.