Stilo International plc announced unaudited group earnings results for the six months ended June 30, 2018. For the six months, the company reported revenue - continuing operations was £707,000 against £910,000 a year ago. Reduction in sales Revenue was principally due to the expiry of a 3 year customer contract for Migrate. Operating profit was £46,000 against £144,000 a year ago. Profit before tax was £51,000 against £147,000 a year ago. Profit attributable to equity holders of the company was £42,000 or 0.4 pence per basic and diluted share against £142,000 or 0.12 pence per basic and diluted share a year ago. Net cash used in operating activities was £7,000 against net cash from operating activities of £304,000 a year ago. Purchase of plant and equipment was £11,000 against £4,000 a year ago.

This position is likely to continue for the second half of 2018, as the company looks to build the sales pipeline whilst controlling costs in line with sales projections.