The software-as-a-service company posted a pretax loss of
Recurring revenues rose, offsetting reduced revenues from the company's professional services division as staff were deployed on internal development projects.
Recurring revenues now make up 79% of total revenues, up from 72% in the previous year.
Sales costs were broadly flat, and gross margin was maintained. The company said that it is in the final quarter of its transformation investment programme, and during the first-half of the year its total spend on these activities was 50% of its revenue. Research, development and technical spend was
Arnold previously held the position of corporate development director in the company, and has served as operating officer since 2010.
The company said that a focus on product innovation and integrated its brands functionality into a unified platform is key to its long term strategy, and early feedback on its new software from current and prospective customers has been encouraging.
"The business pipeline continues to grow with a number of exciting opportunities on the horizon to deliver a combined product offering using the new platform," the company said in a statement.
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