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Rosslyn Data Technologies

  • BY: Andrew Hore |
  • POSTED: 20/01/2015 |

Cloud-based data analytics services provider Rosslyn Data Technologies continues to grow its customer base and revenues. 

In the six months to October 2014, revenues improved from £1.02m to £1.25m, while the loss was flat at £1.68m. Additional sales and operational management have been taken on and that has increased admin costs. US sales were around one-quarter of the total following the opening of a new subsidiary last year. It will take time for the new sales staff to start generating significant sales.

Securing new partners will help Rosslyn to add further clients but it will take time to build up revenues from this source. Xerox and PwC are among the firms already signed up. Rosslyn is expected to reach breakeven in 2016-17.

There is still £6.2m in the bank at the end of October 2014. That means that Rosslyn has time to reach breakeven.

The share price recovered 1.13p to 18.38p, which values Rosslyn at £13.9m. Rosslyn raised £10m at 33p a share prior to joining Aim on 29 April.

Director Hugh Cox bought 38,838 shares at 18.07p each, taking his stale to 12.65%.

AIM Journal January 2015 available.

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