16th Sep 2013 07:40
LONDON (Alliance News) - NetDimensions Holdings Limited Monday said it increased revenues but widened pretax losses as it commenced its three-year business plan, including the launch of NetDimensions Healthcare and a share placing to raise USD6 million in net fees.
For the half-year ended June 30 the management-software company reported revenues of USD6.5 million, up from USD5.9 million in the previous year. Pretax losses widened to USD3.2 million from USD504,220 as selling expenses increased to USD5.4 million from USD3.1 million.
Increased revenues were boosted by improved direct sales activity, NetDimensions said, with 83% of total invoiced sales coming from direct clients, up from 73% in the previous year.
The company said it would continue to increase investment as part of its three-year business plan, which it hopes will increase sales revenue. Trading is currently in line with expectations, it said, and it expects revenues to continue to grow as it looks for further opportunities for expansion.
NetDimensions entered into a USD5 million finance facility with Silicon Valley Bank last week, which it said will be available to fund acquisitions.
In early trading Monday, NetDimensions shares were quoted at 61.00 pence, down 1.00p or 1.6%.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
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