Rosslyn Data Technologies plc (AIM: RDT), a leading global big data technology company, is pleased to issue the following statement, ahead of the Group's results announcement for the year ended 30 April 2021, which is scheduled to be released in September.
The Board is pleased to report that, in a challenging year and against a backdrop of COVID lockdowns slowing client opportunities, the Group expects to report that revenue grew during the year by 4% to £7.4 million (2020: £7.1 million). As was noted in the Group's interim results, the Company has made significant investments into its sales and marketing teams and, as such, the Board is pleased that the Group was still able to deliver Operating EBITDA (excluding share-based costs and exceptional costs) in line with market expectations at a loss of around £250,000 (2020: profit of £36,000).
The Group has continued to robustly manage its cash and ended the year with a cash balance of £6.7 million (2020: £0.8 million), whilst bank debt stood at £0.9 million (2020: £1.2million).
Paul Watts, Chief Executive, said:
"This past financial year has been one of investment, which has provided us with a solid platform on which we can capitalise and grow as the global economy starts to return to some degree of normality. I am pleased with how the Group has performed in these challenging times and the gains that we have made through investing in our infrastructure. After taking over as CEO, I have instigated operational reviews across the business, with the view to targeting investment for organic growth in the areas where it will deliver the best return, and I am looking forward to the future with confidence".