Rosslyn Data Technologies Loss Widens As Administrative Costs Jump

LONDON (Alliance News) - Rosslyn Data Technologies PLC said Monday that its annual loss widened despite an 83% rise in revenue.

Shares in the company were trading down 11% at 7.75 pence each.

For the year to April 30, the data analytics platform provider's pretax loss was GBP3.7 million compared to GBP2.0 million a year prior on the back of 73% rise in administrative costs to GBP8.5 million from GBP4.9 million.

Meanwhile, revenue jumped to GBP6.4 million from GBP3.5 million a year before, which the company described as an "encouraging" performance.

Chief Executive Officer Roger Bullen said: "I am pleased to report that the group has made good progress during the financial year and has successfully integrated the Integritie UK Ltd acquisition."

"We have been able to expand our solutions into one platform with multiple solutions, all focused on bringing together structured data, unstructured information, automated workflows for business process improvement, and analytics."

Looking ahead, the company said it is "excited" about the new year as it has a "broad pipeline of new business".

"The 2018-19 financial year is going to be a breakthrough year. We anticipate a cash flow positive year and profitability being achieved," Rosslyn added.

Rosslyn Data