Toumaz's full-year loss widens as investment continues

21st Apr 2015 16:05

British digital radio, connected audio and wireless healthcare group Toumaz saw its losses widen in 2014 due to strong investments.Earnings before interest, taxes, depreciation, and amortization reported a loss of £9.76m, down 4% from the year before. Losses before tax also increased slightly, by 2% to £13.5m.However, the group's revenues increased 19.5% to £26.2m driven by a good performance in its healthcare and digital audio businesses.Its healthcare division saw its first hospital deployments of the SensiumVitals system in the UK, US, Portugal and Australia, generating £750,000 in revenues.The digital audio subsidiary enjoyed an increase of revenues by 16% thanks to strong market growth and new design wins.Looking ahead, the group said: "Whilst we remain confident about the prospects for healthcare, the pace at which revenues ramp up is yet to be proven."Shares in Toumaz fell 6.89% to 4.19p on Tuesday at 16:22.