Electric Word losses widen, upbeat outlook

19th Aug 2013 07:22

AIM-listed specialist media business Electric Word reported deeper losses for the interim period to the end of May as it injected money in product development, sales and marketing at its three main divisions. The group, which provides training services for the education, healthcare and sport sectors, reported a pre-tax loss of £751,000 for the six months ended May 31st 2013 from a loss of £52,000 a year earlier. Revenue fell 14% to £6.7m. Electric Word, which also provides content such as websites, journals, magazines, events and online training, said it had increased investments, mainly in building digital subscriptions products and revenues in Education, Health and Sport & Gaming.Last year the group raised £1.4m through a share offering help fund investment in a new digital publishing platform."The foundations that have been laid in the first half put the group in a good position to grow in the second half of the year and into 2014," the group saidCJ