5th Dec 2018 11:30
LONDON (Alliance News) - i-nexus Global PLC on Wednesday said its loss widened in its recently ended financial year but revenue increased, thanks to new customer wins.
i-nexus floated on London's AIM market at the end of June after raising GBP10 million in its initial public offering.
The stock was untraded on Wednesday, last closing at 54.00 pence a share. Its IPO price was 79p.
The strategy execution software company said its pretax loss widened to GBP1.0 million in the year to the end of September from GBP462,294 the year before, as administrative expenses rose 28% to GBP4.1 million from GBP3.2 million.
Revenue increased by 15% to GBP4.7 million year-on-year from GBP4.1 million.
The company said it signed 10 new customers in financial 2018, up from 8 the year before. All clients were signed under recurring contracts of at least one year in length, typically paid annually in advance.
Revenue from recurring contracted software subscriptions was GBP3.8 million compared to GBP3.4 million a year ago, while revenue from associated professional services was GBP870,000, up from GBP750,000.
"With an outstanding customer base, strong competitive position, large addressable market and strengthened operational teams, we look to the future with confidence," said Chief Executive Simon Crowther.
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