Horizon Discovery Group plc reported audited consolidated preliminary earnings results for the year ended December 31, 2016. For the period, the company reported revenue was £24,074,000 against £20,156,000 a year ago. Operating loss was £12,363,000 against £10,288,000 a year ago. Loss before tax was £12,456,000 against £10,544,000, a year ago. Loss for the year was £11,433,000 against £9,883,000, year ago. Basic and diluted loss per share was 12.1 pence against 11.2 pence, a year ago. Net cash outflow from operating activities was £7,775,000 against £10,953,000 a year ago. Purchases of property, plant and equipment was £5,726,000 against £2,689,000 a year ago. Purchase of intangible assets was £2,733,000 against £1,212,000 a year ago. EBITDA loss from Products and Services before exceptional items improved to £3.8 million against £4.6 million a year ago.

For the year 2017, the company expects revenue growth, guided at £30-£35 million for 2017, and with realizing significant operational efficiencies through reorganizing the business to reach positive EBITDA on trading business this year, 2017.