Arcontech shrinks losses 71%

21st Sep 2009 08:23

Financial data provider Arcontech said it narrowed full year losses while new business wins in the second half and interest in its new products makes it optimistic for the coming year. The group, which provides products and services for real-time financial market data processing and trading, said group loss for the year reduced to £0.47m for the year ended 30 June 2009 from £1.6m the same time a year before. Revenue from continuing operations increased by 19% to £1.40m.Commenting on trading chairman Richard Last said, "New business won by Arcontech in the second half of the year and the increasing level of new prospects for our CityVision and AXE products, together with our recently strengthened balance sheet gives great encouragement that significant opportunities for growth exist.""We are optimistic for the prospects of the business in the coming year," he added.