114 Dec 2007 23:00
LONDON (Thomson Financial) - Stilo International PLC slipped to a first-half pretax loss -- hit by job-cut costs and a weak dollar -- but said it believes 2008 market releases will provide opportunities for significant future sales growth.
The AIM-listed software company reported a pretax loss of 39,000 stg for the six months to June 30 compared with a 47,000 stg profit the year earlier. Revenue rose 14 pct to 1.25 mln stg.
The weak dollar caused a 52,000 stg adverse impact on profits, while non-recurring staff redundancy costs totaled 37,000 stg.
In the first half of 2007 Stilo's development spend was 105,000 stg representing 8.4 pct of sales revenues. It said this will be increased to 19 pct of projected revenues in the second half.
'These developments will be announced later in 2007, and are expected to make a positive contribution to 2008 revenues and beyond,' Stilo added.