Rosslyn Data narrows losses as revenues grow, cost cutting efforts pay off

Data technology outfit Rosslyn expects to turn in improved revenues and narrower losses for its recently wrapped up year.

Rosslyn, which focussed on consolidation, investment into product development, cost reduction and pursuing larger value contracts, anticipates revenue growth of 8.3% to £7m in the twelve months ended 30 April, helping it to narrow its losses by more than 75% to £432,000.

The AIM-listed firm also achieved a key milestone, generating cash from operations of £329,000 - a marked turnaround from the £3.45m worth of cash used in operations a year earlier.

Research investment dipped £200,000 to £900,000 and recurring costs dropped 10% to £6m.

Looking ahead, Rosslyn told investors that its "year of consolidation" had been important in allowing it to "accelerate growth in the coming years from a sound base".

Chief executive Roger Bullen said: "This year we have been able to grow our top line revenues, particularly licence fees, reduce our cost base and, most importantly, generate cash during the year, all whilst maintaining excellent service delivery to our clients."

As of 1030 BST, Rosslyn shares had inched forward 0.35% to 7.15p.