What Rosslyn does
Rosslyn Data Technologies PLC (LON:RDT) provides data management and analytics services to businesses through RAPid, a platform that automatically extracts, aggregates, improves and organises data and documents for analysis.
The company also has a research arm, RAPid Labs, which works with both private sector organisations and universities to develop new technology projects covering a wide range of areas including machine learning, cognitive computing, and predictive analytics.
• In the year to 30 April 2019, the company saw revenue grow 8.3% to £7.0mln from £6.4mln the year before on the back of annual licence fee revenue growth of 9.2% to £5.4mln from £5.0mln. The loss before income tax narrowed significantly to £1.70mln from £3.69mln the previous year
• In April, the company appointed finance veteran Ash Mehta as its chief financial officer. At the time Rosslyn said Mehta, who did a stint as finance director of Northbridge Industrial Services between 2007 and 2011, had substantial CFO experience in growth companies, both public and private
• Earlier in the month, the firm said it had inked a refinancing deal that included a new three-year £1.5mln secured debt facility is with Clydesdale Bank with an interest rate of 7.75% plus 3 month LIBOR. The fund would be used to cover the debt assumed as part of its acquisition of Integritie (UK) Limited in April 2017 and provide some working capital
• In February the company won three contracts for its supply chain analytics solutions carrying a combined value of over £500,000 as well as options to extend beyond the initial terms and add additional service capabilities
"We are confident of continued growth as we engage in numerous large client opportunities that we hope to be able to announce later this year," said Roger Bullen, the chief executive of Rosslyn, in September 2019.
With shares trading at around 7.5p as of 17 September, Rosslyn has a market capitalisation of £14.4mln.