Tornado on right path despite a loss
The Harrogate-based company, which provides instant communication services for mobile devices, said sales fell to £1.5m in 2012, down from £2m in 2011.
The company reported an operating loss of £1.3m, worse than 2011’s operating loss of £800,000.
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Hide AdMobile Tornado said rising expenses from an increase in activity, particularly with larger customers, hit its performance.
Peter Wilkinson, chairman, told the City: “I am pleased to report a year of significant progress.
“Whilst we are yet to see this momentum reflected in the group’s financial performance, I am confident that the deals we successfully closed in the year, together with the work undertaken to deliver them, has set the foundations for a very exciting year ahead.”
Mr Wilkinson’s InTechnology business is the main shareholder in Mobile Tornado with a 49.9 per cent stake.
Mobile Tornado uses technology developed in Israel.