Active Risk, a risk management software solution provider, revealed a loss for the year ended March 31st after a decline in revenues and an increase in costs combined to deliver the negative result.
Revenues fell from £8.9m in to £7.3m after software licence sales declined by half, while costs and expenses rose to £9.0m from £7.8m the previous year, resulting in a loss of £1.7m compared to a profit of £1.1m the previous year. Losses per share were 5.6p (previous year earnings of 3.5p).
In a statement the company said: "We remain confident about the prospects for our business and, in line with our three year plan, have strengthened the talent in the business and stepped up our marketing to allow us to take advantage of the growing opportunity for our software solution in the enterprise risk management marketplace."
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Year-on-year cash rose from £2.3m to £3.3m. The firm did not recommend paying a dividend.
The share price fell 8.2% to 28p by 14:00.
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