Irish e-learning firm ThirdForce has reported a first-half loss on higher costs and the euro's advance against the dollar and sterling.
The net loss for the six months ended June 30th was €737,000 ($1 million), or 29 cents a share, compared with a profit of €573,000, or 38 cents, a year earlier, the company said this morning in a statement.
Sales advanced 50 per cent to €13.5 million.
"The prevailing negative worldwide business sentiment and weakening currencies are creating an unhelpful trading environment for our customers," chairman Pat McDonagh said.
Distribution costs jumped to €4.15 million from €1.62 million a year earlier, while administration expenses surged 61 per cent to €7.8 million.
Bloomberg