28th Mar 2014 13:19
LONDON (Alliance News) - Outsourcery PLC Friday said it has received an order that represents the first clear indication of progress towards generating material recurring revenue.
Outsourcery, which helps customers move their IT systems to the cloud, said it has secured an initial order for the staged roll-out of a cloud-based enterprise unified communications product. The order its the first one to be made through one of Outsourcery's major UK-based strategic partners.
Outsourcery said the order is the first from a growing pipeline of opportunities.
"This initial order, with a major strategic partner is early validation of our partner model and highlights the increasing willingness of organisations to transition their legacy ICT services to a cloud solution," Co-Chief Executive Piers Linney said in a statement.
"The engagement is expected to be the beginning of the development of a strong pipeline of opportunities with this particular channel partner and will be a reference point to the scalability potential of our offering," he added.
On March 19, Outsourcery said it was confident about delivering on market expectations for 2014, reporting a GBP9.3 million pretax loss for 2013, slightly narrower than the GBP10.0 million the previous year.
It outlined a strategy of 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.
The company floated on the AIM market in May 2013, and completed its transition away from mobile phone distribution; selling the last of its remaining legacy mobile distribution operations in September.
Outsourcery shares were Friday quoted at 112.50 pence, up 2.7%.
By Samuel Agini; [email protected]; @samuelagini
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