Supply@Me notes continued funding challenges as interim loss narrows

Supply@Me Capital PLC on Tuesday reported a narrowed interim loss, as it said it intends to apply for its share suspension to be lifted.

The London-based inventory monetisation platform reported a pretax loss of £841,000 for the six months that ended June 30, narrowing from £1.5 million a year prior.

Revenue more than doubled to £87,000 from £39,000, but the improved bottom line was primarily owed to the company’s ‘continued focus on cost saving efforts’.

The company tied the low revenue level to ‘continuing challenges’ facing the business in converting inventory funding opportunities into inventory monetisation transactions.

On Monday, the company published its delayed 2024 financial accounts.

It reported a pretax loss of £3.0 million, narrowed from £4.2 million. Revenue however fell 18% to £129,000 from £158,000.

As with its interims, Supply@Me attributed the narrowed losses to its focus on cost-saving efforts.

Shares in the company are currently suspended from trading owing to the delay in the publication of its 2024 annual accounts. The company said it intends to make an application for this suspension to be lifted now that its accounts have been published.

‘In addition to becoming the group’s new corporate funder, Nuburu has expressed an interest in, and has recently been actively working towards, participating in the funding of the Inventory Monetisation transactions from the group’s client company pipeline which has the potential to further improve the future revenue generation by the group,’ said Supply@Me.

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