StockMarketWire.com - Cloud-based software company I-nexus reported wider losses on higher costs and a slowdown in deal activity in the second half of the year.

For the year ended 30 September 2019, pre-tax losses widened to £4.3m from £1.0m on-year and revenue was flat at £4.8m.

Slower than expected new deal conversion and customer churn early in the year had weighed on performance, the company said.

Overheads increased in the year from £4.1m to £7.8m.

'While we did not achieve the level of overall revenue growth we had expected in reported period, the new financial year has started satisfactorily,' the company said.


At 8:48am: [LON:INX] Inexus Global Plc Ord 10p share price was -3.5p at 17.5p



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