Frontier Smart Technologies Group Limited reported unaudited consolidated earnings results for the six months ended June 30, 2017. For the period, the company reported revenue of GBP 19,727,000 compared to GBP 13,659,000 a year ago. EBITDA was GBP 1,077,000 compared to LBITDA of GBP 35,000 a year ago. Loss from continuing operations was GBP 613,000 compared to GBP 1,776,000 a year ago. Loss before taxation was GBP 755,000 compared to GBP 1,960,000 a year ago. Loss for the period from continuing operations was GBP 1,230,000 compared to GBP 587,000 a year ago. Loss for the period was GBP 1,230,000 compared to GBP 16,466,000 a year ago. Basic loss per share from continuing operations was 2.88 pence compared to 1.38 pence a year ago. Net cash flow from operating activities was GBP 2,373,000 compared to net cash flow used in operating activities of GBP 3,881,000 a year ago. Purchase of property, plant and equipment was GBP 97,000 compared to GBP 56,000 a year ago. Purchase on intangible assets was GBP 21,000 compared to GBP 63,000 a year ago. The growth in group Revenue was assisted by the decline in Sterling against the USD.


The board now expects fiscal year 2017 EBITDA to be significantly ahead of current market expectations.