Aferian PLC - Cambridge, England-based business-to-business company providing video streaming solutions - Reports revenue in the six months ended May 31 of $23.3 million, down 48% from $44.5 million the year prior reflecting a 71% drop in devices revenue to $9.4 million from $32.5 million. Explains performance was in line with the trading update announced on June 28. Pretax loss widens to $8.6 million from $811,000 the year before. No dividend is declared after a 1 pence payout last year. Donald McGarva, chief executive officer says: ‘This has been a very busy and challenging half for Aferian. The restructuring of our cost base in 24i and Amino is generating significant annualised cost savings and providing a stronger platform on which to build and grow. Demand in our 24i division has remained strong as we continue our strategic focus on growing software and services revenue in the fast-growing video streaming market.’ Adds ‘With 90% of revenue contracted for the full year and a well-developed pipeline of well qualified prospects, we remain confident in the full year outcome.’

Current stock price: 13.00 pence, up 6.1% in London on Thursday

12-month change: down 90%

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