Nasstar widens FY loss as revenue surges

Provider of hosted managed and cloud computing services Nasstar has widened its full-year pre-tax loss as it posted a surge in revenue.

It said full-year trading was in line with expectations with a robust performance from the core group business offsetting the previously disclosed under-performance of VESK acquired assets,

Revenue was £18.7m, from £13.8m. Pre-tax loss was £1.77m, from a loss of £1.3m. Its final dividend was 0.052p a share, up 16% on the prior year.

"Our focus in 2017 is to realise the efficiencies that have been made possible via our acquisition strategy with a view to improving margins in future years," said chief executive Nigel Redwood.

"We believe this will continue to provide a strong platform for organic growth and increase in shareholder value."

At 12:58 BST, shares in AIM-traded Nasstar were flat at 8.75p each.