20 April 2018 – disposal
The group has disposed of its non-core business Inition Limited for cash consideration of £200,000. In the year to 31 December 2017, Inition had revenues of £2.3m and made a pre-tax loss of £1.0m. Following the disposal the group will benefit from the cash cost of funding the trading losses of Inition whilst the cash received for the business will help to reduce indebtedness at the group. Parity is now a more focused group and without the distraction of this it should be able to make further progress. The shares remain a BUY.