20th May 2019 11:03
LONDON (Alliance News) - Actual Experience PLC on Monday said its interim loss narrowed in line with expectations as revenue multiplied.
For the six months to March 31, the analytics firm posted a pretax loss of GBP3.4 million compared to GBP3.8 million a year prior.
Revenue for the six-month period rose to GBP953,025 from GBP264,348 in the comparative period a year ago, reflecting growth in Channel Partner revenue.
However, higher administrative costs of GBP3.9 million, from GBP3.5 million offset the revenue increase in terms of profitability.
"The success of the two large-scale deployments announced last year has been the catalyst for deepening our engagement with these Channel Partners in the new financial year. The new pipeline of opportunities generated as a result of this change in engagement is starting to reach the point in the sales cycle where deals can be closed, with the first two having been secured in the first half of the year," Chief Executive Officer Dave Page said.
He added: "With a significant market opportunity, growing Channel Partner traction and increasingly scalable offering, the board looks to the future with confidence."
Actual Experience shares were untraded at 185.00 pence each on Monday.
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