19th Mar 2014 09:19
LONDON (Alliance News) - Outsourcery PLC expressed confidence on Wednesday in delivering on market expectations for 2014, as it posted a narrowed pretax loss in 2013, boosted by rising revenues.
The cloud service provider posted a pretax loss of GBP9.3 million, narrowed from a pretax loss of GBP10.0 million in the previous year, as revenue rose to GBP5.2 million from GBP3.6 million in the previous year, and a reduction in finance costs offset listing fees of GBP495,000.
Outsourcery outlined its strategy for 2014, highlighting a focus on activating its existing strategic partners such as with Vodafone Group PLC and Virgin Media, and securing new strategic partners to secure its growth for 2015 and beyond.
It will work on deploying its IL3 cloud platform and achieving accreditation for the project during 2014, and noted that it was already working on the pipeline development for IL3 to maximise its revenue opportunity.
The company floated on the AIM index in May 2013, and completed its transition away from mobile phone distribution; selling the last of its remaining legacy mobile distribution operations in September.
Shares in Outsourcery were trading up 1.0% at 110.56 pence Wednesday morning.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
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