2 Dec 2013

First half loss reported by Snakk Media

12:27 pm on 2 December 2013

Snakk Media has reported a first half loss, but sales more than doubled as more brands are picking up advertising on smart phones and tablets.

The company, which listed in March this year, made a loss of $837,734 for the six months to September, compared with a loss of $718,960 last year.

However, sales grew by 109.2% to nearly $1.4 million.

The company is listed on the stock operator's alternative market and specialises in helping clients advertise on smartphones.

Chief executive Mark Ryan says the business has been structured differently in the period to deal with the growth, which is outstripping the losses, and Snakk is putting a lot more personnel in the business, particularly on the operational side and sales team.