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KRM22 posts deeper loss after failure to close expected orders

By BFN News | 09:56 AM | Tuesday 17 September, 2019


Technology and software investment company KRM22 posted a deeper first-half loss after it failed to close as many orders at it had expected. Pre-tax losses for the six months through June amounted to £4.5m, compared to losses of £1.4m on-year. Revenue rose to £1.8m, up from £0.1m on-year, but was more offset by a jump in expenses. 'We have made significant progress in the first six months of the year as we continue to build the company to become the market leader in risk management for capital market firms,' executive chairman Keith Todd said. 'Although our pipeline has increased over the period, reflecting new opportunities, we did not close orders as expected during the summer months.' 'The growth in customer numbers and increase in recurring revenue demonstrates our commitment to investors to building a strong recurring revenue business.' At 9:56am: (LON:KRM) Krm22 Plc Ord 10p share price was -2.5p at 66.5p Story provided by StockMarketWire.com

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