StockMarketWire.com - Web-based wireless technology retailer eXpansys saw like-for-like revenue fall by 4.5% to £25.3 million in six months to 31 October.

However its loss for the year from continuing operations has been reduced to £370,000, from £817,000 in 2007.

eXpansys now has cash in hand after eliminating £3.5 million of debt.

CEO Roger Butterworth said, 'We have significantly reduced our cost base, eliminated bank debt and now have cash in hand. So, although the pace of recovery in our trading performance will, inevitably, be slowed by current global market conditions, the business is now better shape to stabilise revenues and deliver improved results in the short to medium term.'