8th Dec 2022 17:35
GRC International Group PLC - Ely, England-based provider of products and services for IT governance, risk management and compliance - Reports revenue of GBP7.3 million for the six months ended on September 30, up 11% from GBP6.6 million the year before. Says revenue from existing customers is up 71% of total revenue, compared to only 57% a year earlier. Pretax loss, however, slightly widens to GBP539,000 from GBP492,000, as operating loss widens to GBP467,000 from GBP385,000 the year before.
Chief Executive Officer Alan Calder says: "Our revenues, including recurring and contracted revenues, all grew strongly. Despite inflationary pressures on our operating costs, we continue to achieve improvement in gross margin."
Looking ahead, GRC said it continues to invest in e-commerce and SaaS divisions. It says current trading remains in line with expectations.
Current stock price: 21.00 pence, closed down 13% on Thursday in London
12-month change: down 24%
By Xindi Wei, Alliance News reporter
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