Proxama losses narrow after headcount slashed to 23
Source - SMW
Mobile location data group Proxama said annual losses narrowed after it reduced its headcount to 23 employees from 60.
The company posted a pre-tax loss of £3.80m, compared to a £4.79m loss in 2016.
'2017 saw an unprecedented amount of change for Proxama: the sale of the payments division; a new board, including a CEO and management team; becoming completely debt free; a significant restructuring of the business, resulting in materially reduced costs; and raising the working capital to invest in Location Sciences,' the company said.
'The company is now in its strongest position yet, strategically, financially, operationally and in terms of its market position.'
At 8:19am: (LON:PROX) Proxama Plc Ord 1p share price was +0p at 0.02p