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Training technology group Pennant International posted a first-half loss after rising sales were more than offset by expenses.
Pre-tax losses for the six months through June amounted to £1.7 million, compared to year-on-year losses of £3.2 million.
Revenue rose to £7.4 million, up from £6.3 million.
Chairman John Ponsonby said the results marked a particularly encouraging performance from the IPS division and cost cutting.
'After a challenging first half, we are pleased that the company remains on course to meet expectations for the year,' Ponsonby said.
'The board is committed to delivering the group strategy and is keenly focussed on improving group performance in 2022.'