REACT Group reports loss in first full year

Specialist provider of rapid response deep cleaning and emergency decontamination services, REACT Group, announced its final results for the year to 30 September on Friday - its first full year since listing on AIM in mid-2015 via a reverse takeover.

The AIM-traded firm said turnover for the period was £2.4m - compared to £0.7m for the shorter reporting period from 24 June to 30 September 2015 - with a cost of sales of £1.4m, up from £0.35m in the short 2015 period.

It posted a pre-tax loss of £0.15m, widening from £0.04m in the abridged 2015 year.

The company’s cash position remained strong, the board claimed, at £1.1m.

On the operational front, REACT, said it managed to revamp its sales team during the period, while it closed the EPUK division, and reportedly improved marketing with a “more focussed” sales force.

“After a challenging time with the EPUK management, we made the decision to close that side of the business,” said chief executive Grahame Rummery.

“The core business, REACT Specialist Cleaning, has performed well during this period and we remain positive about its future.

“We are confident we will have a positive 2017 and look forward to the rest of the year.”