(Alliance News) - Rosslyn Data Technologies PLC on Friday said it expects a slight increase in annual revenue but a substantial widening of loss before interest, tax, depreciation and amortisation.
For the year to April 30, the AIM-listed data management and analytics services provider said revenue was expected to be GBP7.4 million, 4% higher than the GBP7.1 million posted the year before.
Despite the improved revenue, full year Ebitda was expected to be in line with market forecasts at a loss of around GBP250,000, widened from GBP36,000 the prior year.
Rosslyn strengthened its cash position in the year ending April, with reserves of GBP6.7 million, up from GBP800,000 the year prior.
Chief Executive Paul Watts said: "This past financial year has been one of investment, which has provided us with a solid platform on which we can capitalise and grow as the global economy starts to return to some degree of normality.
"I am pleased with how the group has performed in these challenging times and the gains that we have made through investing in our infrastructure."
In a separate statement, the company announced Chief Financial Officer Ash Mehta would be leaving his role at the end of August.
Shares in Rosslyn Data Technologies were down 5.4% at 5.25 pence on Friday afternoon in London.
By Will Paige; willpaige@alliancenews.com
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Rosslyn Data (RDT)