TransEDA vows to reverse loss

SOFTWARE group Trans-EDA shrugged off half-year losses, pledging that rising sales and recent cost cutting would turn it cashflow positive by its year-end.

In the six months to 31 December the maker of computer chip testing software posted a pre-tax loss of £256,000 against a £46,000 profit last time, but chief executive Ellis Smith hailed a 46% increase in sales to £3.5m during a difficult period for its clients' industry as 'encouraging'.

Smith expects a pick-up in business for customers such as Hitachi and NEC to underpin TransEDA's traditionally stronger second half.

He said that the group was not owed any money by its beleaguered client nVidia, which is being investigated by America's Securities and Exchange Commission.

TransEDA shares, placed 18 months ago at 50p, gained 1/4p to 28 1/2p.