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Kellan Group announces preliminary results for the year ended 31 December 2013

Operating loss narrowing from &pound2.2 million in 2012 to &pound1.3 million in 2013.

Continued streamlining with administrative expenses (including impairment) reducing by 17.2% year-on-year from &pound10.8 million in 2012 to &pound8.9 million. Non-cash impairment of goodwill and intangibles reducing from &pound1.07 million in 2012 to &pound0.10 million in 2013.    

Cash outflow from operations of &pound0.12 million (2012: &pound1.16 million).

Loss of 0.66p per basic and diluted share (2012: loss 1.92p).

Fundraising of &pound1.5 million, comprising &pound0.9 million in equity and &pound0.6 million in unsecured convertible debt with the Company's largest shareholder was completed in August 2013.


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