30th Apr 2015 09:09
LONDON (Alliance News) - Software-as-a-service firm Access Intelligence PLC Thursday said it will benefit from the significant investment its has made in product development in 2015, as it posted a narrowed pretax loss for its recent financial year.
In the year to end-November 2014 the company posted a pretax loss of GBP933,000, narrowed from a pretax loss of GBP2.6 million a year before, as revenue rose slightly to GBP8.5 million from GBP8.4 million, and it took significantly lower impairment charges.
Access Intelligence continued to invest in its product during the year, spending GBP3.9 million on research and development and other technical expenditure, about level with GBP4.2 million in the previous year. However, it expects its level of investment to reduce going forward, as the exceptional level of investment in its software platform will come to an end in 2015.
It signed new software-as-a-service contracts during the year, which it said led to a 3% rise in revenues contracted not yet invoiced.
The company has not proposed a dividend for the year, as it is looking instead to invest in its products and sales development. It opted not to pay a dividend in the previous year for the same reason, and last paid a full-year dividend of 0.05 pence in the year before that.
Shares in Access Intelligence were untraded Thursday at 2.89 pence.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
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