LONDON (Alliance News) - ATTRAQT Group PLC Tuesday expressed confidence in its future, as it posted a widened pretax loss in the half year to end-June, its first results published since listing on AIM last month.
The software-as-a-service provider posted a pretax loss of GBP470,000 for the half year, widened from a loss of GBP141,00 a year before, as revenue rose to GBP961,000 from GBP737,000 but this was offset by a jump in administrative expenses.
ATTRAQT added 21 new clients in the UK and US during the half year including Kingfisher PLC's Screwfix and White Stuff amongst others, and signed 18 new projects with existing clients.
This took the total number of clients at the end of the period to 73, compared to 54 the year before.
The uptick in costs was as a result of investments in its US sales operation and strengthening of its technical team in the UK.
ATTRAQT listed on AIM in August, raising GBP1.3 million, which it is using to further expand its US sales team and increase the productive capacity of its business, increasing the functionality of its core platform.
"With a growing revenue stream and a strong pipeline for new business in both the UK and US in the second half of the year, along with an increasingly stronger and powerful merchandising platform, we are confident in the ongoing success of ATTRAQT," said Chief Executive Andre Brown in a statement.
Shares in ATTRAQT were trading up 1.4% at 54.25 Tuesday afternoon.
By Hana Stewart-Smith; hanassmith@alliancenews.com; @HanaSSAllNews
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