Riversoft sales and losses rise
12 April 2012
SOFTWARE company Riversoft reported a 26% rise in sales for the full year to £6.51m from £5.17m a year earlier, while pretax loss on ordinary operations widened to £39.41m from £26.46m.
Riversoft said it is confident that it is building a strong foundation and will achieve its goal of profitable growth.
It completed a cost review this month which is expected to generate further pre-exceptional cost reductions of up to £2.4m a quarter. The savings are expected to come through job cuts and reductions in capital expenditure.
For the year to end-December 2001, the company also reported that its loss per share narrowed to 16.3p from 39.9p.
.
