IkeGPS widens annual loss, predicts sales growth and breakeven in 2018

Mon, 29 May 2017

By Sophie Boot May 30 (BusinessDesk) - IkeGPS, the laser measurement toolmaker, widened its annual loss after a "difficult first half", but expects growth and cash breakeven in 2018. The Wellington-based company posted a $10.7 million loss for the year ended March 31, from $8.8 million a year earlier, with revenue dropping 36 percent to $5.8 million. The drop reflected a weaker first half caused by "several one-off headwinds", which was followed by a return to growth in the second half, the company said. Ike projected a return to growt...

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