ServicePower Technologies PLC posted a wider full-year pretax loss due to contract delays and higher administrative expenses but said it expects its Software as a Service (SaaS) and Outsourcing businesses to trade profitably for the first quarter of 2007.
The company posted a pretax loss of 4.1 mln stg for the year to Dec, 31, compared with a loss of 1.6 mln stg in 2005. Its total sales rose 41 pct to 11.1 mln stg.
Administrative expenses rose to 7.87 mln stg from 4.83 mln stg.
Chief executive David Brisco highlighted that two contracts delayed from 2006 had been signed in January and said the company is confident the others will be signed soon.
The software and computer services company also said its revenue visibility for 2007 currently stands at 11.2 mln stg.
From AFX News