i-nexus continues to make progress as it strives for positive earnings

(Alliance News) - i-nexus Global PLC on Monday said it has continued to make "steady progress" in its financial year ending September 30.

Ahead of its annual general meeting, which took place on Monday morning, the Coventry, England-based software company said it is actively pursuing several larger scale opportunities that are currently in the pipeline.

i-nexus added that its attention remains "firmly focused on ensuring the adequacy of our cash resources and executing mindful investment decisions" as it aim towards a positive adjusted earnings before interest, tax, depreciation and amortisation position.

"We continue to explore opportunities for product innovation, with one proof of concept product being trialed with prospects. Additionally, following the previously announced loss of our last remaining client using the older, highly customised version of the i-nexus software, effective at the calendar year end, we are now realising the benefits of a more focused development effort," the firm added.

Shares in i-nexus were down 2.3% at 3.66 pence each in London on Monday afternoon.

By Sabrina Penty, Alliance News reporter

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