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Rosslyn Data lifted as interim losses narrow, boosted by increase in contract values

The data management and analytics firm reported an underlying operating loss for the period of £213,477, smaller than the £1.1mln loss a year ago
Big Data
The average value of a contract had also increased by more than 7% in the first half

Rosslyn Data Technologies PLC (LON:RDT) shares were lifted in early trading Monday as it reported a narrowed loss in its half-year results as an increase in contract values boosted earnings.

The data management and analytics firm reported an underlying (EBTIDA) operating loss for the period of £213,477, smaller than the £1.1mln loss a year ago, while revenues climbed to £3.5mln from £3.2mln previously.

READ: Rosslyn Data secures analytics contract with large European logistics firm, says making good progress

The group’s gross profit margin was also up 3.5% on the year-ago period at 78.4%, while annual recurring revenue carried forward rose 12% to £5mln.

The average value of a contract had also increased by more than 7%, lifted by several contract wins including a €560,000 deal with a European logistics firm in October.

Looking forward, Roger Bullen, Rosslyn’s chief executive, said it was expected that by the end of the financial year the run rate would be below that of average monthly revenues.

He added that the company was currently “in negotiations with a number of large enterprises” with its sales pipeline growing, while also saying the firm expected to reach a cash break-even position during the current financial year.

Shares were up 1.7% at 7.5p.

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