(Alliance News) - IQGeo Group PLC said it is optimistic about the rest of 2020 after posting a 30% revenue rise in the first half of the year.
Revenue in the six months to June 30 climbed to GBP4.7 million from GBP3.6 million. The Cambridge-based software company's pretax loss narrowed to GBP1.7 million from GBP3.2 million.
"I am pleased that we have executed our strategy well in the first six months of the year with continued good momentum in the second half. Despite the Covid-19 related market downturn we were able to increase our bookings and revenue thanks largely to our subscription model," Chief Executive Officer Richard Petti said.
"We remain confident in the business opportunities and prospects for the remainder of the year."
Shares in the company were 0.9% lower at 66.40 pence each in London on Monday afternoon.
By Eric Cunha; ericcunha@alliancenews.com
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Iqgeo (IQG)