7digital boss confident about company’s future prospects
Posted on: 19 juillet 2017, by : Stuart Dredge

7digital CEO Simon Cole has responded to Music Ally’s story yesterday about the firm’s latest financial results, and its auditor’s warning over uncertainty about the company’s ability to continue as a going concern.
The results confirmed preliminary 2016 financial results announced by 7digital earlier this year, with its revenues up 15% to £11.9m in 2016, while net losses narrowed from £7.9m in 2015 to £5.3m in 2016.
7digital’s independent auditor reported that besides closing its then-in-process acquisition of rival 24-7 Entertainment, the company would need cost-cutting measures and “contracting with significant new customers” to dispel a “material uncertainty” about its going-concern status.
The post 7digital boss confident about company’s future prospects appeared first on Music Ally.
Source: Music ally

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