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Survey, inspection and monitoring company Remote Monitored Systems booked a first-half loss
Pre-tax losses for the six months through June amounted to £0.82m, compared to losses of £0.50m on-year.
Revenue fell 43% to £0.26m, which the company pinned on remedial works being required at a key project handled by its Geocurve unit.
'Although the difficulties identified at Geocurve earlier in the year were disappointing, we have taken decisive action to resolve these, with the backlog on the Thames contract eliminated, costs reduced, and Geocurve returned to operating profitability in June,' chief executive Trevor Brown said.
'GyroMetric, whilst continuing to focus on significant opportunities in the wind sector, has made excellent progress in identifying new customers in industrial sectors with shorter lead times, in addition to continuing to deliver new orders in the marine market.'
At 1:17pm: (LON:RMS) Remote Monitored Systems Plc Ord 0.2p share price was 0p at 0.58p