DEV.L Share News (DEV)

(Alliance News) - Software firm Dev Clever Holdings PLC on Friday reported "substantial" progress in an interim period in which it listed on the London Stock Exchange.

Dev Clever began trading in London in January, having raised GBP1.0 million in its initial public offering.

For the seven months to April, revenue rose 2.9% to GBP264,000, and revenue is expected to be "heavily" weighted towards the second half following the launch of some new platforms.

Dev Clever posted a pretax loss of GBP569,000, widened from GBP153,000 a year prior.

Chief Executive Chris Jeffries said: "The group has focused heavily on building long-term collaborative partnerships with complementary businesses across both the consumer engagement and education sectors, as we see this as the most effective method of delivering rapid and sustainable growth.

"We have been particularly delighted to announce the commercial partnerships with Eagle Eye Solutions, Yoyo Wallet, Valassis UK & Europe and WorldSkills UK and we will continue to keep the market informed of further progress in future updates."

"The board would like to thank our new and existing shareholders for their support and we look forward to capitalising on significant market opportunities over the coming month," he added.

Shares were 1.4% lower on Friday afternoon at 3.65 pence each.