24th Sep 2018 10:39
LONDON (Alliance News) - Nasstar PLC on Monday said its loss narrowed in the first half of 2018 as it progresses on its three-year strategic programme.
The computing services provider said its pretax loss narrowed to GBP447,000 in the six months to the end of June compared to GBP1.1 million reported for the same period a year before, as revenue climbed to GBP12.5 million from GBP11.8 million.
Last year, the company launched the "Nasstar 10-19" programme, which is a three-year strategic plan aimed to improve its efficiencies and margins. Nasstar said it intends to continue to refine its organisational structure, with one team for each function managed by a single leadership team.
As part of the "Nasstar 10-19" programme, the company closed its data centre in Singapore, with computer application Microsoft Azure being utilised for the remaining workloads.
Looking forward, the company said it intends to further invest in its "Nasstar 10-19" programme to deliver an ever-improving service.
"2018 saw the first year of operating under our new organisational structure and this combined with three large projects has really tested the team, which I am delighted to say has responded to the challenge," said Chief Executive Nigel Redwood.
Nasstar shares were down 0.7% on Monday at 11.72 pence each.
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