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Rosslyn Data Technologies Posts Wider Loss In Maiden Results

August 14, 2014

Rowena Harris-Doughty

LONDON (Alliance News) - Rosslyn Data Technologies PLC Thursday posted a strong increase in revenue in its last financial year, but its loss widened after it booked a number of exceptional costs.

In its maiden results as a listed company, the analytical services provider posted a pretax loss of 3.1 million for the financial year ended April 30, compared with a GBP1.7 million loss a year earlier, after booking GBP0.2 million in settlement and legal costs to settle an "employee related matter" and as administrative expenses rose.

Revenue rose almost 13% to GBP2.1 million, up from GBP1.8 million a year earlier.

The group said its customer base grew by over 50%, while it continued to see an increase in revenue from existing clients.

It gave a confident outlook for the year ahead, supported by a "broad pipeline of new business", and said it is confident that the business is trading in line with expectations.

"We are pleased to announce that the company is in advanced talks with a number of new partners and hope to be able to make a further announcement about partner arrangements soon," the company said in a statement.

Rosslyn Data Technologies shares were untraded at 24.50 pence Thursday morning.

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Source: Alliance News

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