21st Sep 2015 08:16
LONDON (Alliance News) - Hosted managed and cloud computing services provider Nasstar PLC on Monday said its pretax loss in the first half narrowed thanks to higher revenue and improved gross margins for the company.
Nasstar said its pretax loss for the six months to the end of June was GBP421,000, compared to a GBP1.2 million loss a year earlier, as its revenue rose to GBP6.6 million from GBP5.0 million, driven by the contribution of hosted desktop provider Kamanchi Ltd, which it acquired in July 2014.
Monthly recurring revenue for the group at the end of June was at GBP969,000, up from GBP776,000 a year earlier, as its average monthly recurring revenue per desktop rose to GBP128.00 from GBP103.00. This, in addition to cost savings made from merging its offices in London and the consolidation of its licensing reporting, helped its gross margin improve to 71.0% from 68.0% in the half.
"2015 represents the first full financial period that we start to see the rewards of integrating our three subsidiaries into one group, and I am delighted by the growth demonstrated in our financial highlights and the progress we continue to make in our key operating metrics," said Nigel Redwood, Nasstar's chief executive.
"I remain optimistic about the remaining half of the year and believe we are progressing in line with current board expectations," he added.
Shares in Nasstar were untraded on Monday, having last traded at 7.75 pence.
By Sam Unsted; [email protected]; @SamUAtAlliance
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