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Space management software group SmartSpace Software reported a first-half loss as higher costs offset a rise in revenue.
Pre-tax losses for the six months through June amounted to £1.09 million, compared to losses of £1.10 million year-on-year.
Revenue from continuing operations rose 6.5% to £2.32 million.
SmartSpace Software sold its enterprise software division in August, boosting its cash holdings to £5.6 million at 30 September.
'Despite the difficult economic backdrop, with the wide range of opportunities open to SmartSpace, the board views the future with confidence,' chief executive Frank Beechinor said.
'The international spread of our customer base is a strength in today's market evidenced by the fact that whilst the UK and US were challenged by Covid-19, our business in Australasia grew.'
'Although we already have customers in 73 countries, we are eager to enter new markets with local language versions.'
Beechinor said the sale of the enterprise software division meant the company believed it had sufficient financial resources to execute on organic plans without further recourse to shareholders.
At 2:00pm: (LON:SMRT) Smartspace Software Plc Ord Shs 10p share price was +3p at 84p