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LONDON (Alliance News) - Rosslyn Data Technologies PLC on Monday reported a significantly narrowed loss in the first half of its current financial year, helped by new contract wins and growth in average value of deals.
The enterprise data analytics platform provider said pretax loss narrowed significantly in the six months to the end of October to GBP840,954 from GBP2.0 million reported for the same period a year ago.
Revenue rose 11% to GBP3.5 million from GBP3.2 million, thanks to the new contract wins. Average contract value increased by 7% to GBP85,400 per annum.
Looking forward, the company said it is on track to achieve a cash flow break-even position by the end of its current financial year as it is currently in negotiations regarding a number of significant deals.
"We continue to make significant progress, with the company being increasingly well positioned to take advantage of the growing number of opportunities coming to us by organisations seeking to significantly reduce the complexity, cost and time of leveraging data to deliver savings, manage compliance and improve business efficiencies," said Chief Executive Roger Bullen.
Rosslyn Data shares were untraded on Monday, last closing at 7.25 pence.
