IN BRIEF: Acuity RM loss narrows as implements more efficient business
Acuity RM Group PLC - London-based risk management company - First half pretax loss narrows to GBP263,000 in the six months to June 30 from GBP634,000 a year prior as revenue rises to GBP1.1 million from GBP1.0 million. Cost of sales increases to GBP143,000 from GBP103,000. Administration costs fall to GBP1.3 million from GBP1.5 million. Operating loss narrows to GBP282,000 from GBP586,000. Looking ahead, reiterates new strategic focus on cyber governance, risk and compliance management rather than attempting to address the enterprise risk management market as a whole. Says direct sales efforts will focus on mid-market clients where it sees the highest conversion rates and fastest adoption. Chief Executive David Rajakovich says: "I believe we have now put in place the foundations of a leaner, more efficient and focused business. There is still much to do to achieve Acuity's potential but we have started, the impact is beginning to show positively in the financials and I believe we are now much better placed to deliver in H2 and beyond. Our focus on operational efficiency and product innovation positions us well to capitalise on opportunities as they emerge." Acuity sees encouraging signs in its pipeline development, particularly in defence. It remains cautious about broader market conditions though notes significant sales opportunities ahead. Read More