Actual Experience sees new business from home working

The analytics company's operating loss for the six months to the end of March narrowed to £3.03m from £3.44m as revenue rose and costs fell.

Revenue increased to £971,516 from £953,025. Cost of sales dropped to £464,417 from £559,884 and administration expenses declined to £3.1m from £3.8m.

Actual Experience helps companies improve their digital systems. The company said the enforced digital transformation wrought by the Covid-19 crisis had increased demand for its services in the first half as millions of people worked from home.

"The need for effective home working and the ability to monitor the technology which enables it are clearly moving up the corporate agenda," Chief Executive Dave Page said. "Our ability to service the needs of major corporates, be it in traditional offices or in hundreds or thousands of individual homes, places us in a strong position. Discussions regarding potential new contracts are well progressed and we expect to be able to announce further details regarding this in due course."

The AIM-traded company spent £411,525 to cut headcount from 93 to 74 in the first half to save £150,000 a month. Its shares rose 22% to 28.64p,