Electric Word signals smaller-than-anticipated loss

20th Dec 2016 15:03

(ShareCast News) - Electric Word issued an update to its trading on Tuesday, following the end of its financial year to 30 November.The AIM-traded company said that, following the disposals of Optimus Education and Speechmark in November, the continuing business of the group now comprised SportBusiness and group central costs."Adjusted EBITA loss for the continuing business for the year ending 30 November is likely to be slightly improved compared to the board's previous expectations as a result of a stronger-than-expected performance from the SportBusiness Intelligence consultancy revenue stream," the board said in a statement."The smaller group will require a lower level of central support and the group's central costs are now in the course of being reduced where possible."As part of that process, Electric Word confirmed the business will be moving to new premises in the first quarter of 2017.