Source - Alliance News

Pod Point Group Holdings PLC on Thursday said it was making strong progress despite a weak private plug-in vehicle demand.

The London-based electric vehicle charging infrastructure provider said pretax loss widened to £83.2 million in 2023 from £19.9 million in 2022.

Revenue declined 11% to £63.8 million from £71.4 million.

Looking ahead, Pod Point said it continues to expect revenue of about £60 million for 2024, around 5.9% lower than in 2023. Further, it expects an adjusted loss before interest, tax, depreciation and amortisation of around £14 million, narrowing by around 8.3% from £15.3 million in 2023.

‘The group has made a good start to the year, despite private plug-in vehicle demand remaining weak,’ the company said, noting it was making progress against all of its operational targets.

Pod Point shares were 0.2% lower at 22.80 pence each on Thursday morning in London.

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