(MENAFN- ProactiveInvestors - N.America) Rosslyn Data Technologies PLC (LON:RDT) said it was 'extremely positive' about the future as it unveiled 40% increase in revenues and said it expected to be cashflow break-even this year.
In a trading update the group said sales for the year to April 30 would be 3.9-4mln with the pretax loss narrowing to 2.4mln from 3.5mln. It has 1.8mln in the bank.
The data and cloud technology specialist said it had agreed terms with a number of new customers.
'Whilst these contracts were not signed during the 2016 financial year as had been intended they are expected to be signed imminently' investors were told.
As a result revenue growth is expected to 'remain strong' while the churn rate (the number of customers lost) was impressive at just 5% a year. Its customer numbers have grown from 38 to 168.
The focus will remain on tight cost control in order to get the business to cashflow break-even during the 'calendar year' Rosslyn said.
'Overall the board remains extremely positive about the future and expects this next year to be one of strong progress' it added.
Rosslyn helps make sense of the welter of information stored within a business allowing a client company can go out and sell more products or purchase more effectively. In other words the benefits of its analysis are tangible.
The company is borne of an era when IT teams are shrinking yet the demand for meaningful commercial information has never been greater.
This has led to a shift in data analysis with the departments country offices and divisions of big firms carrying out their own number crunching rather than it being done centrally.
By extension this means the process is being overseen by workers unfamiliar with the technology and coding needed to extract the data required of their particular part of the business.
Rosslyn has five interlocking technologies that make it easy for the lay user to do just that and its key product is the RAPid Cloud-based data analytics platform.
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.