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Rosslyn Data Technologies books loss; even as sales rise 2.1%

By BFN News | 09:23 AM | Tuesday 22 September, 2020


Enterprise data group Rosslyn Data Technologies booked a full-year loss, even as it posted a modest rise in sales. Pre-tax losses for the year through April amounted to £1.90m, compared to a loss of £1.70m. Revenue grew 2.1% to £7.1m. The company said revenue growth was offset by a planned reduction of more than £0.6m of low-margin contracts, which helped gross margin increase to 84.7%, up from 79.7%. It pinned the loss on a higher level of amortisation of intangible assets. Rosslyn Data Technologies said the pandemic had resulted in a higher level of engagement by clients, but sales opportunities were temporarily delayed during lockdown. It added that in recent weeks it had seen increased activities from prospective clients and that its revenues and pipeline remained 'strong'. 'The focus by large companies on supply chain resilience, supply chain risk, cost reduction, extracting value from 'Big Data', and the imminent end of the Brexit transition period are positive factors for Rosslyn,' the company said. At 9:23am: (LON:RDT) Rosslyn Data Technologies Plc Ord Gbp0.005 share price was 0p at 5.63p Story provided by StockMarketWire.com

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