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Tern posts annual loss despite rising revenue

Tuesday, 19th March 2019
Internet of Things investment company Tern posted an annual loss after increased turnover was more than offset by expenses.

Pre-tax losses for the year through December amounted to around £313k, narrowing from losses of £1.7m on-year.

'Having strengthened our financial position during the year, we are now well-placed to deliver additional diversification,' chief executive Al Sisto said.

'This will be a priority and, having refined our investment strategy to focus on companies who provide commercial solutions to the healthcare industry and industrial use cases ... we feel we are well placed to invest in companies who operate in high-growth segments of the IoT market.'

At 9:24am: (LON:TERN) Tern Plc share price was -0.5p at 10.5p

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