Defence Holdings focused on delivery after strategic pivot
Defence Holdings PLC on Monday said it had entered its current financial year with ‘momentum’ and ‘clarity of vision’ as it continues its pivot away from esports.
Shares in the London-based defence technology platform were up 3.3% at 0.47 pence each in London on Monday.
Defence Holdings was formerly known as Cassel Capital PLC, and before that, as Guild Esports PLC. The firm sold 100% of the assets of Guild Esports to DCB Sports LLC in a deal completed in October as it pivoted away from esports and towards the defence sector.
Pretax loss narrowed to £1.0 million in the 15 months to December 31 from £4.5 million in the 12 months to September 30, 2023.
Revenue fell 22% to £4.3 million in the 15 months from £5.5 million.
The bottom line benefits from other income of £1.2 million compared to nil in the comparative period. Administrative expenses also drop significantly by 30% to £5.2 million from £7.4 million.
Looking ahead, Defence Holdings said enters financial 2025 with ‘momentum, clarity of vision, and the foundational infrastructure to execute at pace.’
In May, the company unveiled a five-year strategic plan and raised £3.5 million via an oversubscribed placing and subscription, to enable its delivery.
On Monday, Defence Holdings said: ‘We are no longer a repositioning story - we are a growth platform with a national security mandate, focused on delivering results. Our strategy is clear: to build sovereign, software-first capabilities that address the most urgent threats in modern warfare-ranging from drone swarms and AI decision support, to synthetic media influence operations and cyber-physical infrastructure threats.’
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