StockMarketWire.com - Software-as-a-Service company Access Intelligence reported wider losses as rising costs offset a jump in annual revenue.

For the year ended 30 November 2019, pre-tax losses widened to £2.9m from £1.7m, while revenue increased by 51% year-on-year to £13.43m.

The group incurred £93K of net financial expense, down from £160K, and charged £1.9m in depreciation and amortisation, more than double last year's £896K.

Annual contract value base increased by 46% to £18.1m on-year.

'Our commitment to growth was evidenced by the acquisition of Pulsar and further product enhancements to the Vuelio and ResponseSource platforms. Pulsar is a particularly exciting addition because it strengthens our technology, data and research capabilities while opening US and global opportunities,' said Christopher Satterthwaite, non-executive chairman of Access Intelligence.


At 9:10am: [LON:ACC] Access Intelligence PLC share price was +0.5p at 50p



Story provided by StockMarketWire.com