Online marketing and media company Webfirm (ASX:WFM) narrowed its net losses 28% to $1.17 million in 1H10, even as revenue declined by nearly half.
The company attributed the improvement to further cost reduction initiatives, as well as favourable outcomes in recent commercial disputes.
But revenue fell 47% to $2.8 million, in a result attributed to the depression in the advertising and media markets during the global financial crisis.
Webfirm did not declare a dividend. WFM shares have today fallen 5.08% to $0.056.