29th Oct 2015 09:18
LONDON (Alliance News) - AIM telecom software and services company Artilium PLC Thursday said its outlook is positive, as it reported a swing to a pretax loss for its most recently ended financial year, in what it called "a transitional year."
For the year to end-June the company reported a pretax loss of EUR768,000, swung from a pretax profit of EUR18,000, as revenue fell to EUR7.7 million from EUR10.2 million.
Artilium said that it had reduced its prices in its retail business "in order to stay competitive", and simultaneously worked to cut costs from its business. Its United Telecoms business saw difficulties in the Belgian market as a result of fierce price competition, however, it said that it had chosen to reduce its revenues in the short term to enable its Mobile Virtual Network Operator customers to start investing in their business and customers.
The company said that new business development remained difficult, with significant lead times, but pledged to put additional resources and attention to this area going forward.
Artilium cited a spate of recent acquisitions, Talking Sense Networks, *bliep and Comsys, which it said will aid its further growth.
"The outlook for the rest of the year to June 2016 is positive with strong growth in revenue and income expected. We will continue to build our business through integration, selective acquisitions and continued investment in the organic growth of our businesses," the company said.
Shares in Artilium were untraded Thursday morning, having last traded at 5.25 pence.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
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