itm power plc said tuesday that it expects a wider adjusted loss than previously forecast for fiscal 2023 on lower sales due to project delays and said it plans to reduce its headcount by a quarter the uk cleanfuel and energystorage company said it is targeting a 30 reduction in annualized personnel cost subject to employee consultation as it seeks to streamline the organization the benefits will start to be recognized in the fiscal year that starts in may itm said the company said it expects an adjusted loss before interest taxes depreciation and amortization of between 85 million and 95 million pounds 105 million1173 million on product revenue that is forecast to come in at gbp2 million for the year to april the company said in september it expected its fiscal 2023 ebitda loss to be between gbp45 million and gbp50 million on revenue of gbp56 million though it warned a month later that guidance might be revised for the half year to october itm reported a pretax loss of gbp565 million compared with a loss of gbp153 million for the yearearlier period on revenue that halved to gbp20 million itms firsthalf adjusted ebitda loss amounted to gbp541 million compared with a loss of gbp129 million a year before shares at 0827 gmt were up 568 pence or 64 at 950 pence