Financial highlights
Revenues up 6.9% to $177.6 million (H1 2016: $166.1 million)
o IoT Services revenues up 25.5% to $17.2 million (H1 2016: $13.7 million)
Gross margin 39.2% (H1 2016: 40.1%)
Adjusted EBITDA $14.7 million (H1 2016: $21.4 million), reflecting increased investment in two recently acquired businesses - such investment expected to reduce from H2 2017 onwards
Loss before tax $6.7 million (H1 2016: profit $4.7 million)
Adjusted loss per share 0.8 cents (H1 2016: adjusted earnings per share 10.0 cents)
Net operating cash flow before movement in working capital $14.0 million (H1 2016: $21.0 million)
$49.7 million net raised from placing to support acquisitive growth
Net debt of $9.3 million (31 Dec 2016: $17.7 million; 30 Jun 2016: $29.1 million)
No interim dividend (H1 2016: interim dividend 2.5 cents)
