Toumaz Limited announced earnings results for the six months ended 30 June 2016. The company announced that as anticipated, Group revenues in the first half were marginally lower at £13.7 million compared to £14.0 million a year ago, due mainly to a decline in Healthcare revenues.  Excluding Healthcare, revenues were steady at £13.7 million compared to £13.8 million a year ago, ahead of the launch of the Group's next generation smart audio product in second half. Group EBITDA improved by 35% to a loss of £3.6 million in first half of 2016 compared to £5.5 million loss a year ago. This is largely attributable to the reduction in the Group's research and development ('R&D') expenditure, which as planned decreased from £6.3 million in first half of 2015 to £4.8 million in first half of 2016. Excluding Healthcare, the loss improved from £1.8 million in first half of 2015 to £35,000 in first half of 2016 as R&D expenditure fell from £4.7 million in first half of 2015 to £2.6 million in first half 2016. 

The company announced the sale of its healthcare business, Sensium Healthcare, following the sale, the Group is expected to be cash-flow positive in second half of 2016.