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Access Intelligence
- BY: Andrew Hore |
- POSTED: 27/07/2007 |
- COMMENTS: Add yours
Compliance software and back-up storage supplier Access Intelligence swung into loss in the first half.
Access swung from a profit of £190,000 to a loss of £118,000 on flat turnover of £1.74m in the six months to May 2007. Higher development costs were behind an increase in overall admin costs. The main disappointments were contract delays at MS2M and falling sales for the data storage operation. MS2M will be launching an internet-based compliance service in the autumn.
Access didn’t mention WiredGov, which sends government information to a database of interested parties, or the Marketing Guild. Both are non-core and Access would like to sell them. They have been profitable in the past and there is no reason to think that they aren’t still making money which suggests that the core business might have done worse than it seems.
There are some positives. Recurring revenue is running at £186,000 a month and there are new products which could boost revenues. Access needs to move back into profit and show that it can grow the business, both organically and via acquisition, so that it regains investor confidence.
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