Much of the gains were attributed to the Group’s Asia team that was brought on board in the second half of 2021. This change to majority direct revenue has had a positive impact on the Group’s gross margin. This is expected to rise 61% for the first half of 2022 from 38.1% for the same period the previous year and 51.6% for the full year 2021.
Cornerstone FS stated:
The Group had bank balances of approximately £0.28m at the date of the approval of the financial statements and convertible loan note facilities of a further £0.45m that are available to be called on 20-days’ notice (£0.1m of which cannot be called until 13 January 2023).
Cornerstone highlighted that the group remains confident of its prospects for the full year 2022.
