LONDON (Alliance News) - Actual Experience PLC Wednesday said it increased revenues in the first half of the year, but its losses widened on the back of exceptional costs associated with its stock market flotation earlier in the year.
The analytics-as-a-service company, which listed on London's AIM market in February, said revenue in the six months to March 31 increased by 45% to GBP272,081 from GBP188,076 a year earlier, boosted by good sales momentum with both new and existing clients.
It said a majority of revenue continues to be generated from the UK, although it expects non-UK revenue to gradually increase as it develops sales channels with its partners.
"We have a growing pipeline of business and, following the recent investment, an increasing capacity to convert this to revenue," said Chairman and Chief Executive Dave Page in a statement.
However, Actual Experience said its losses widened in the first-half of the year as a result of costs associated with its recent stock market flotation, as well as higher headcount levels in the period.
The group reported a loss of GBP658,247 in the period, compared with a GBP245,465 loss the prior year. Its gross profit, which excludes the flotation costs and other administrative expenses, was GBP152,391, up from GBP99,029 a year earlier.
Actual Experience shares were trading 1.0% higher Wednesday afternoon, at 197.00 pence.
By Rowena Harris-Doughty; rowenaharrisdoughty@alliancenews.com; @rharrisdoughty
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