LONDON (Alliance News) - E-commerce software provider ATTRAQT Group PLC Wednesday expressed confidence for the remainder of 2015 and reported a rise in pretax profit in its first half, as new contract wins drove revenue.
For the half year to end-June the company reported a pretax loss of GBP349,000, narrowed from a pretax loss of GBP470,000 a year before, as revenue rose to GBP1.3 million from GBP961,000, although this was partly offset by higher administrative costs as it continue to invest in enhancing its existing product offering and in new products.
The company said it inked 24 deals in its first half, including 17 contracts with new clients, taking its total client numbers at the end of the first half to 100, compared to 73 in the previous year. Following the end of the half year it signed seven additional clients, including its first client in Eastern Europe and a large new US contract win.
ATTRAQT said it continued to develop its core software platform Freestyle Merchandising during the period, focused on improving performance and adding new features to make merchandising easier.
"With a growing recurring revenue stream and a strong pipeline for new business in both the UK and North America in the second half of the year, we are confident in the ongoing success of ATTRAQT for the remainder of 2015 and beyond," said Chief Executive Officer Andre Brown in a statement.
Shares in ATTRAQT were up 2.6% at 60.00 pence Wednesday morning.
By Hana Stewart-Smith; hanassmith@alliancenews.com; @HanaSSAllNews
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