Kellan’s YoY sales decline by 13%
Kellan Group plc has announced its interim results for the six months ended 30th June 2016.
In the six months ended 30th June 2016, the Group's year-on-year sales declined by 13% to £10.0m, compared with £11.5m in H1 2015; while Net Fee Income (NFI) declined by 10% from £3.7m in H1 2015 to £3.3m in H1 2016.
Continuous focus on overheads with administrative expenses reduced by 2% to £3.3m over H1 2016, compared with £3.4m during the comparable period in H1 2015 and £3.5m in H2 2015.
Adjusted EBITDA profit of £0.2m during H1 2016 compared with £0.4m during H1 2015.
Loss of £0.1m during H1 2016, compared with a profit of £0.2m during the comparable period last year. Excluding the effect of the £150,000 favourable share based payment adjustment in H1 2015, year-on-year earnings before tax declined from break even in H1 2015 to a loss of £0.1m in H1 2016.
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