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LONDON (Alliance News) - Rosslyn Data Technologies PLC on Thursday posted a narrowed pretax loss for the first half as its revenue surged higher thanks to a robust series of contract wins.
Rosslyn, which provides systems to help companies turn data into information, said its pretax loss for the half to the end of October was GBP1.3 million, compared to a GBP1.7 million loss a year earlier. Revenue rose 46% in the half to GBP1.8 million from GBP1.3 million.
The rise in sales for the group was driven by its strategic partnership with PwC, the accountancy firm, and its partnership with outsourcing group Genpact. In the half, Rosslyn won contracts with miner Anglo American PLC and B&Q owner Kingfisher Group PLC and now has 150 clients on its books, up 25% year-on-year.
The group said it is on track to meet its target of being cashflow breakeven in its next financial year, to April 2017, in line with the forecasts it gave when it floated in London in April 2014.
"I am very pleased with the progress made to date and believe that the company is increasingly well positioned to take advantage of the business opportunity, as the attached link, below, illustrates," said Chief Executive Charles Clark.
Shares in Rosslyn were up 2.8% to 12.85 pence.
By Sam Unsted; samunsted@alliancenews.com; @SamUAtAlliance
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