17th Jan 2014 10:25
LONDON (Alliance News) - Lottery, software, gaming and leisure firm Boxhill Technologies PLC Friday said that it continues to perform as expected, and has signed further contracts with customers.
In an annual general meeting statement to shareholders, the AIM-listed company said that it has continued to build on last year's transformation, when it booked write-downs related to its restructuring and unit closures, but said it was set to start making profits, and now has another live customer, as well as a further four companies going through integration. It said that those companies are due to go live in the next eight weeks.
In its final results for the financial year ended July 31, 2013, released in December, Boxhill said it recorded a net loss of GBP438,000 for the year, compared with a GBP291,000 loss a year earlier. Revenues rose to GBP1.3 million from GBP1.1 million a year earlier, but the company booked GBP382,000 in impairments charges.
"In terms of our future outlook, we continue to deliver against won contracts previously announced, and are completing further integrations with signed customers. We also have new products in the pipeline," said Non-Executive Chairman Lord Razzall in the AGM statement.
Last year the company changed its name from The Weather Lottery PLC to Boxhill Technologies PLC, shifting its focus to develop a range of activities within the software, lottery, gaming and leisure sectors.
Boxhill Tech shares were up 1.3% Friday morning, trading at 0.198 pence per share.
By Rowena Harris-Doughty; [email protected]; @rharrisdoughty
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