LONDON (Alliance News) - ATTRAQT Group PLC Wednesday expressed confidence in its outlook for 2016 and beyond, underpinned by its pipeline of new business opportunities, as it reported a narrowed pretax loss for 2015.
The company reported a pretax loss of GBP732,000, narrowed from a loss of GBP1.5 million a year before, as revenue grew to GBP2.9 million from GBP2.1 million a year before. In the previous year the company recorded exceptional costs of GBP484,000 in relation to its listing on AIM.
The digital merchandising software company said revenue growth had exceeded its expectations of GBP2.8 million, helped by 31 new client wins, taking its total customer base to 110.
ATTRAQT has been expanding into North America and added eight new customers in this region during the year including suitcase and travel bag manufacturer Tumi Holdings Inc. This takes its total clients in North America to 17.
ATTRAQT raised GBP3.3 million in a share placing in November which it plans to use to speed up its growth in the UK, Europe and North America, and invest in its Freestyle Merchandising technology platform.
"With a strong pipeline of new business opportunities, our increased exit rate and an increasingly sophisticated merchandising platform, we are confident in the ongoing success of ATTRAQT and in the outlook for 2016 and beyond," said Chief Executive Officer Andre Brown in a statement.
Shares in ATTRAQT were up 2.8% at 46.79 pence Wednesday morning.
By Hana Stewart-Smith; hanassmith@alliancenews.com; @HanaSSAllNews
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