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Cloud computing specialist Rosslyn Data Technologies (LON:RDT) dropped by 8.57% to 8p (as of 14:15 BST) as pre-tax losses widened to £3.7 million despite revenues climbing by 83% during the year ended 30th April. Gross margins fell by 530 basis points to 76.1%.
CEO Roger Bullen said: “I am pleased to report that the Group has made good progress during the financial year and has successfully integrated the Integritie acquisition. We have been able to expand our solutions into one platform with multiple solutions – all focused on bringing together structured data, unstructured information, automated workflows for business process improvement, and analytics. Furthermore, our growing partnership with Microsoft and IBM extend our reach, enabling us to develop, introduce and incorporate cutting-edge technologies. Since the year end, we have been able to secure significant client wins and aim to continue to do so for the remainder of the year.
“We have continued to invest in the development of our talented team, making key hires in sales, customer service and R&D. The addition of these key people ensures that our product offering remains market-leading and that we provide the highest levels of service possible to our clients. Our continued development of our product set is exciting, and seeing the RAPid platform being enhanced with the Knowledge Capture tool set (KC) and being progressively embedded in a number of organisations is encouraging.
“We have a broad pipeline of new business and we are excited about the year ahead”.