Silex Systems reduces net loss by $3.7m

Company News

by Anna Napoli

Silex Systems (ASX:SLX) has announced its half year results for financial year 2019 posting a net loss from ordinary activities of $1.8m. The company has reduced its loss by by $3.7 million compared to the previous corresponding period.

The improvement in the net loss was largely due to a $3.9 million reduction in expenses.

Revenue decreased 34 per cent to $396 860.

Silex posted an earnings (EBITDA) loss of $2.2m for the period.

No dividends have been paid or proposed during the reporting period.

Silex says its balance sheet as at 31 December 2018 remains in a strong position with net assets of around $40 million.

Shares in Silex Systems (ASX:SLX) trading flat at 26 cents.
 

Anna Napoli

Finance News Network
Anna joined FNN February 2018 and also works with Channel 7 as a freelance producer. Anna has also worked as a lawyer and lecturer. She has also presented news updates for interstate news with Southern Cross Austereo.