Pulsar Group hails 'momentum' and client wins but loss widens
Pulsar Group PLC on Monday said it is confident in its outlook, citing generative artificial intelligence presenting ‘exciting opportunities’ as ‘momentum’ was sustained.
The London-based software-as-a-service provider for the marketing and communications industries said pretax loss widened to £4.9 million in the six months ended May 31, from £4.5 million a year ago.
Revenue edged down to £30.1 million from £30.8 million.
Cost of sales increased 6.9% to £9.4 million from £8.7 million. Recurring administrative costs meanwhile decreased 10% to £17.1 million from £19.0 million.
Costs from the amortisation of internally generated intangible assets increased by 38% to £2.6 million from £1.9 million.
Looking ahead, Chief Executive Officer Joanna Arnold said the board is confident for the second half of the financial year and beyond.
She noted ‘sustained strong commercial momentum’ and ‘significant’ client wins.
Arnold said: ‘The transformative power of generative AI presents exciting opportunities for both new revenue streams and significant operating model enhancements. Pulsar Group remains committed to embedding AI across our suite, reinforcing our market leadership and empowering clients to shape narratives with confidence, while delivering lasting shareholder value.’
She added that the company continues to trade in line with its own expectations, due to momentum across the regions.
Pulsar shares fell 1.3% to 39.50 pence each on Monday afternoon in London.
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