20th Jan 2014 09:44
LONDON (Alliance News) - Allocate Software PLC said it was on track to meet expectations for the full year, as it saw revenue rise and its pretax loss narrow in the half year ended November 30, 2013.
The workforce-management software company posted revenue of GBP17.3 million, up 7.5% from GBP16.1 million in the previous year. Revenue growth was driven by increasing demand for its HealthRoster application, and the company secured four new customers including three new NHS Trusts during the period.
Allocate noted that its business is weighted towards the second half of the year, but based on its performance during the first half said it remained confident in meeting its full-year expectations.
Allocate saw a pretax loss of GBP2.0 million in the half-year ended November 30, narrowed from GBP2.5 million in the previous year.
The company said it had repaid its total debt balance of GBP4.0 million.
Shares in Allocate were trading up 2.6% at 110.77 pence Monday morning.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
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