Arcontech Group PLC, providers of products and services for real-time financial market data processing and trading, reports its unaudited results for the six months ended 31 December 2011.
Financial and business highlights:
- Turnover increased by 17% to £696,797 (six months to 31 December 2010: £593,358).
- Operating loss reduced by 29% to £342,789 (six months to 31 December 2010 £481,598).
- Contracted future annual recurring revenues amount to £1.3 million (2010: £1.1 million) and cover 67% of the cost base.
- Net cash of £1.3 million at 31 December 2011 (at 30 June 2011: £0.8 million)
Richard Last, Chairman of Arcontech Group, said: The Group, now refocused on its CityVision product suite, has improved the depth of its product offering, its level of efficiency and its ability to deliver and support the needs of customers and prospective clients. More technical resource is becoming available to provide additional pre-sales support, an essential factor in winning larger value sales. These improvements, together with the promising prospect list, provide optimism that we will be successful in winning new sales over the next twelve months.