Rosslyn Data Technologies PLC (AIM:RDT, FRA:7IU) said recent trading has been in line with expectations, with potential new customers now engaging fully and in a position to commit to new projects.
Chief executive Paul Watts said the board is “cautiously optimistic that this trend will continue and build momentum through into the second half of the year”.
READ: Rosslyn Data grows revenues in disrupted year
“Recent successes have included signing a five-year deal with an American multinational pharmaceuticals group for the procurement spend analytics solution and the continued growth of our CustomsCloudTM customs product,” he commented.
“During financial year 2021/22 we have increased investment in our products and will release an update to our Rapid procurement product before the end of the year. I am extremely encouraged by the progress we have made against the initiatives I have set for the group and this combined with a continued investment into sales and marketing throughout the year means I look to the future with confidence.”
In the year ended 30 April, revenue rose 4.3% to £7.4mln, though administrative costs increased to £7.2mln due to a one-off restructuring charge relating to people and property and investment into Sales and Marketing.
Operating underlying loss was £200,000 from a profit of £36,000 the year before. The period ended with a cash balance of £6.7mln and debt of £900,000.