- Software company Rosslyn Data Technologies booked a first-half loss as its revenue fell, though margins improved.

Pre-tax losses for the six months through October amounted to £1.01m, compared to losses of £0.84m on-year.

Revenue fell 11% to £3.1m following the removal of low-margin-generating revenues.

The company's gross profit margin improved to 81.2%, up from 78.4%.

'The first half of the year has seen us follow a process of trading out low margin revenues and replacing them with higher yielding annual recurring revenue,' chief executive Roger Bullen said.

'Whilst doing this we continued to acquire new customers, expand offerings with existing customers and grow internationally.

'The group has in parallel continued to invest in product development, enabling us to innovate and add new products into the portfolio.'

'Whilst this focus on improving the quality of revenue impacted sales in the first half of the year compared to last year, we remain confident that the second half will enable us to stay on target and to meet management expectations.'

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