t42 IoT Tracking Solutions PLC - provides tracking, security, and monitoring solutions for the global supply chain, logistics, container, and freight market - Reports a total comprehensive loss of $754,000 in the first half of 2023, widened from $222,000 the year prior. Revenue in the half drops to $1.7 million from $2.2 million due to continued supply chain issues and supplier requirements for upfront payments. Explains the requirement for upfront payments impacted its ability to complete many orders in the first half of the year. Hopes orders will be fulfilled in the second half of the year. Adds anticipated orders give it the confidence that the result in the second half will show a ‘significant’ improvement against the previous year.

‘It is positive to see the continued adoption of t42 technology into numerous different channels, including port authorities, distributors and direct customers. We now take on the challenge of financing the increasing demand for our products using the Company’s new leasing structure,’ says Chief Executive Avi Hartman.

Current stock price: 4.00 pence, down 11% in London on Wednesday afternoon

12-month change: down 57%

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