17th Sep 2015 08:01
LONDON (Alliance News) - Rosslyn Data Technologies PLC on Thursday reported a widened pretax loss for its recently ended financial year as it said it invested in its staff and products.
The cloud-based data services provider reported a pretax loss of GBP3.5 million for the year to end-April, widened from a pretax loss of GBP3.1 million a year before, as a rise in revenue to GBP2.8 million from GBP2.1 million was offset by higher administrative costs due to the company investing in research and development and adding to its sales and marketing team.
The company, which listed in April of last year, said it had more than doubled its customer base, and its direct sales team has "seen a marked improvement in key metrics".
Rosslyn said it had secured a number of contract wins in all of the regions in which it operates, the UK, Continental Europe and the US, and in January it signed a five-year deal with the Florida State University Board of Trustees to provide data analytic services to twelve universities in Florida.
"Our focus has been on investing in the development of the team, making key hires in sales, customer success, and R&D. The addition of these key people ensure that we provide the highest levels of service possible and that our product offering remains market-leading," said Chief Executive Officer Charles Clark in a statement.
"We have a broad pipeline of new business and we are excited about the year ahead," Clark added.
Shares in Rosslyn were down 3.3% at 16.68 pence Thursday morning.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
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