Getech Grp Share News (GTC)

LONDON (Alliance News) - Geospatial services provider Getech Group PLC said on Friday its interim loss widened as sales declined, and it entered the second half with a "robust" pipeline

Revenue for the half year to June 30 fell to GBP2.9 million from GBP3.1 million as the company's pretax loss widened to GBP531,000 from GBP419,000.

Getech said it continued to invest in its Globe platform and Software products in the half, spending GBP420,000 compared to GBP470,000 last year.

Looking ahead, the company said it will be investing in further releases of its software over the second half.

"With Getech's revenue historically distributed 40:60 in favour of H2, our sales team is working on a series of campaigns that target the ramp-up in spending that comes at our customer's year-end. We expect these campaigns to deliver both 'spot' and recurring revenue sales, delivering revenue in both H2 2018 and future periods," said Getech.

The company said it has entered the second half with a "robust" sales pipeline, and is optimistic that there will be new demand for its products as customers gear up for its 2019 work.

Shares in Getec were down 0.6% at 34.30 pence on Friday.