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IT&e
- BY: Andrew Hore |
- POSTED: 01/09/2008 |
IT&e plans to cancel its Aim quotation.
The banking software company joined Aim less than two years ago. It was already quoted on the ASX.
Revenues grew from A$11.8m to A$13.1m in the year to June 2008 but this growth has been slower than hoped because of the poor banking environment. That is why the loss increased to A$5.91m. There is still A$1.6m of cash in the bank but IT&e needs to cut its costs.
At 1.75p a share, IT&e is valued at £4.75m.
IT&e raised £600,000 at 4.75p a share when the risk management software company joined Aim on 12 December 2006.
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