Cellcast looks to cut costs after losses widen

27th Sep 2013 13:56

Cellcast said it had taken further cost-cutting measures after it sank deeper into losses at the half year mark.The AIM-listed interactive television specialist said revenues dropped to £8.3m in the six months to the end of June from £9.8m as demand for its products and services continued to wane. Half-year losses widened to £915,000 from £119,000.The group has sought to cut its costs further by moving its studio facility out of London and shaking up its operational structure. Chief Executive Officer Andrew Wilson said: "We expect the second half of 2013 to benefit from the move to Milton Keynes; reorganisation of operations and reduction in broadband commitments."The company is also looking overseas for growth. It is to undertake tests in various international markets particularly Africa and South America where mobile penetration is growing rapidly.Shares in Cellcast were down 9.09% at 0.75p.TB