Hawkwing plc disappoints with latest results but remains positive with 'supportive shareholders'

London-headquartered Hawkwing plc has revealed its interim results for the six months ended June 30 2019.

In terms of finance, the group’s revenue has sadly made a staggering fall of 55.2 per cent to $10.6m. In H1 2018, this figure stood at $23.6m.

Hawkwing recently sold its Australian business earlier this month (September 5) to QMS Sport Holding Limited, a subsidiary of QMS Media Limited, which is quoted on the ASX.

The company’s loss from continuing operations stands at $0.7m.

Keith Sadler, interim non-executive chairman, said: “In the first half of the year, our focus was on progressing the disposal of the Australian business and we are pleased to have completed the disposal in September 2019.

“Following completion of the sale, we changed our name to Hawkwing plc and became an AIM Rule 15 Cash Shell.

“The group’s strategy is to pursue an acquisition and we intend to identify a business with the prospects of being profitable and cash generative.

“We have started the process of identifying such a business and look forward to updating the market as appropriate. On behalf of the board, I would like to thank all our shareholders for their continued support.”

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