Rosslyn Data Tech. - AGM Statement
('Rosslyn', 'the Company' or 'the Group')
The Chairman will deliver the following trading update to investors at the Company's Annual General Meeting, which is due to be held at
"I am pleased to report to our Annual General Meeting that we have made good progress since the beginning of this financial year. The strategy, outlined to investors last year, is on track and we are overall very satisfied with progress to date.
"Since the start of this financial year, management has been focused on delivering the growth expectations for this year and beyond, ensuring that the Group is in a position to achieve its forecasts and targets for the year. To that end, we have been concentrating our attention on opportunities to introduce significant efficiencies into the company whilst delivering the RAPid platform to a wide audience. This process is continuous, and we will focus our efforts on growing our client base and expanding our offerings to our current clients, whilst maintaining a streamlined efficient operation. Our focus on revenue generation within the high growth procurement and supply chain domain is proving to be positive and we have secured two significant contracts since the year end from global organisations.
"Management have been cognisant of the Company's cash position and have significantly reduced cash burn, reducing the burn from
"With regard to product development, our team of expert developers continue to build technologies which disrupt the market. Our
"Recent wins have demonstrated the strength and benefits that RAPid delivers to clients. The extremely low churn rate (below 5%) demonstrates the reliability and stability of the Rosslyn Platform and the role our account management teams have in the success of our clients. Our continued investment into the platform and the development of technologies within the data environment truly make Rosslyn a company to watch.
Quickly providing an update on the integration of
"Lastly, before going to the vote on resolutions, I would like to take this opportunity to thank all the employees of the Group, who have contributed so much to the growth and development of Rosslyn, and our shareholders for their continuing support."
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Chief Executive Officer
+44(0)20 7138 3203
+44(0)77 7162 3345
Chief Marketing Officer
Nominated Adviser, Broker
+44(0)20 7397 8924
This information is provided by RNS, the news service of the
Quick facts: Rosslyn Data Technologies PLC
Market Cap: £18.91 m
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