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SimiGon Ltd

  • BY: Andrew Hore |
  • POSTED: 16/01/2018 |

Simulation training systems supplier SimiGon Ltd lost money in 2017.

SimiGon says revenues were $4.3m, down from $6m in 2016, and the underlying net loss was $1.1m.

It took longer than expected to secure a contract with the Israel Air Force

There is also uncertainty about when to recognise revenues from a civilian training contract. This has been delivered but only partly paid for. This has reduced revenues by $700,000.

There is $7.6m in the bank. There is $5m of work expected to be delivered in 2018.

The full year figures will be published in April.

The share price fell 2p to 16p. 

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