LONDON (Alliance News) – The online PLC Blockchain announced on Monday that it will continue to invest in its products after a loss-making swing in the recently concluded financial year.
Online Blockchain shares were traded 17% lower on Monday at 22.75 pence one.
The cryptocurrency development company said it had switched to a loss of GBP188,000 in late June from GBP62,000 in profits a year ago, as revenue fell to GBP56,000 from GBP98. 000.
Online Blockchain provides management services and makes advertising refills for ADVFN PLC which constitutes the turnover of the company.
Online Blockchain holds 18% of the capital of the ADVFN financial market information site.
Administrative expenses increased year-on-year to GBP312,000 compared to 78,000.
Looking ahead, Online Blockchain has stated that it will continue to invest in its research and development as it is essential for the continued growth of the business.
"In 2018, the blockchain bubble burst and the crypto-asset market price took a step back: while this is undoubtedly disappointing in the short term, we firmly believe that blockchain technology has a tremendous future," he said. 39; Clement Chambers CEO.
Of Evelina Grecenko; [email protected]
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