8th Feb 2016 10:52
LONDON (Alliance News) - ServicePower Technologies PLC on Monday said it expects to report that losses after tax widened in 2015.
The field management software company said it expects to report a loss after tax of GBP1.1 million for 2015, versus a GBP944,000 loss in 2014. Revenue is expected to be up by 2.4% at approximately GBP13.0 million from GBP12.7 million the year before.
Meanwhile, the company has obtained a GBP1.0 million unsecured, short-term loan facility from Herald Investment Trust PLC, which owns around 23% of the company, to provide working capital and fund research and development costs.
"ServicePower continues to see momentum in sales and marketing execution, product innovation, and expansion of our partner ecosystem," the company said.
"Enhanced global contract activity, new white labelled products like NEXUS FS and Optimization on Demand which expand our sales pipeline through offering end-to-end, cloud based field service management software, as well as optimization as a service, and continuous enhancement to our industry acknowledged workforce management platform, position ServicePower well for 2016," Chief Executive Marne Martin said.
ServicePower said it publish its full 2015 results on April 6.
Shares in ServicePower were down 2.2% at 3.30 pence on Monday morning.
By Samuel Agini; [email protected]; @samuelagini
Copyright 2016 Alliance News Limited. All Rights Reserved.
Related Shares:
Herald Investment TrustSVR.L