25th Sep 2013 08:52
LONDON (Alliance News) - Outsourcery PLC Wednesday said that it was on track to meet its revenue growth targets after it showed increased revenues for the half year ending June 30, although pretax losses remained roughly flat following its transition to AIM in May.
The company posted revenues of GBP2.1 million, up from GBP1.7 million in the previous year. The company records a pretax loss of GBP4.7 million, roughly flat with the previous year. It said that its partner network had more than doubled since its initial public offering, increasing to 370 signed partners.
It hopes that partnerships with Ingram Micro and Microsoft will bolster the company's performance going forward. The UK Government is a customer of Microsoft, the company said, and under its new agreement it will be able to offer Impact Level 3 compliant cloud services for it.
Outsourcery also sold its mobile distribution business, although it said the sale would have no material impact on its working capital.
The cloud services company said that funds raised at its initial public offering had provided it with resources to build its business. It was on track to achieve its revenue growth target for the full year, Outsourcery said, and was confident about its growth prospects for 2014.
Shares in Outsourcery were trading down 0.50 pence at 120.00 pence Wednesday morning.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
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