21st Sep 2015 09:01
LONDON (Alliance News) - Software and services company NetDimensions (Holdings) Ltd on Monday said it expects a stronger performance over the course of its second half as it reported a slightly wider pretax loss for the first half of 2015.
For the half year to end-June the company, which develops learning and performance-management software, reported a pretax loss of USD2.5 million, widened slightly from USD2.4 million a year before, as a rise in revenue to USD10.6 million from USD9.1 million was offset by higher operating costs.
The company said its focus on high-consequence industries has results in bigger deals, leading to an average first-year deal size for new direct clients in its first half of USD209,000, compared to USD93,000 a year before. It saw good growth in North America, with revenue up 19%, particularly boosted by new client wins in the healthcare sector.
It added 18 new clients during the half year with a combined contracted value of USD3.1 million, it said.
"The company made good progress during the period in terms of total revenue growth generally and recurring SaaS revenue in particular while the company continues to execute on its strategy of focusing on high consequence industries," said Chairman Graham Higgins in a statement. "The company continues to build on the progress made in the first half of the year and, being second half weighted, we expect a stronger performance over the remainder of the current financial year," Higgins added.
Shares in NetDimensions were down 8.4% at 70.10 pence Monday morning.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
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