Cordel corrects previously reported interim loss

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Cordel Group PLC – London-based artificial intelligence platform for transport corridor analysis – On Thursday, corrects the loss reported in the trading statement for the six months ended 31 December which was released on January 19th. Loss before interest, tax, depreciation and amortization decreased by 38% to GBP789,000 from GBP1.3 million and compared to GBP721,000 previously reported. Revenue in the six months to December 31 jumped 50% to GBP945,000 from GBP629,000 a year earlier. The revenue figure is not revised on Thursday. It expects a satisfactory cash position for the financial year 2023, which ends on June 30. President Ian Buddery says: “We are delighted with the market’s recognition of the advantages of our technology and are confident that we will add new contracts as 2023 progresses.” Cordel aims to release the full half-year report in early February.

Current stock price: 5.90 pence

12-month change: 48% reduction

By Tom Budszus, Alliance News reporter

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