Northbridge Industrial Services has extended its H1 pretax loss to £2.7m, from a loss of £2.1m.
Revenue was £11.8m, from £18.6m.
"Whilst the decline in the oil and gas market continues to hold back the Group's performance, we have taken quick and decisive action to reduce our operating costs and strengthen the balance sheet and we are now more optimistic about the longer term future," said CEO Erik Hook.
Net gearing was down 48% to £8.4m, from £16.2m at June 30, 2015.
At 9:23am: (LON:NBI) Northbridge Industrial Services PLC share price was +4.5p at 82p