Smartspace Software PLC - space management software firm based in Bury St Edmunds, England - Reports flat pretax loss of GBP1.1 million for the six months to July 31, as revenue from continuing operations rises 6.5% to GBP2.3 million. Views the future with confidence as there are considerable opportunities for growth. Cash of GBP5.6 million at September 30. Separately, for year ended January 31, loss widens to GBP1.9 million compared to GBP1.0 million. Revenue from contracts with customers rises sharply to GBP5.1 million from GBP3.0 million, but administrative expenses climb to GBP4.3 million from GBP3.2 million. Incurs GBP205,000 of net impairment losses on financial and contract assets versus nothing the year before. Sets new priorities after sale of Enterprise software division, including focus on pure software-as-a-service revenue where group not overly exposed to one market or customer.
Current stock price: 86.00 pence
Year-to-date change: up 45%
By Anna Farley; annafarley@alliancenews.com
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