17th Aug 2016 08:07
LONDON (Alliance News) - Access Intelligence PLC on Wednesday reported a wider pretax loss in the first half of its financial year on higher costs, although revenue received a boost from the acquisitions it made at the end of 2015.
The software-as-a-service supplier said its pretax loss in the six months ended May 31 widened to GBP1.2 million from GBP471,000 the year before, as it booked higher administrative expenses and operating losses. Revenue, however, rose to GBP5.5 million from GBP2.0 million.
Access Intelligence said revenue grew on the back of its recent acquisitions of Cision UK and Vocus UK, while revenue from existing operations increased to GBP2.1 million.
Access Intelligence added that it is restructuring its operations in order to reduce costs, the impact of which will be seen in the 2017 financial year.
Shares in Access Intelligence were trading down 2.4% at 5.00 pence on Wednesday morning.
By Karolina Kaminska; [email protected] @KarolinaAllNews
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