Timestrip narrows losses

11th Jun 2009 08:07

Time and temperature measurement technology group Timestrip narrowed pre-tax losses by 22% and said it continues to focus on reaching the key milestone of profitability as quickly as possible.The group reduced pre-tax losses to £1.3m in the year ended 31 December compared with £1.7m last time, while revenues rose 280% to £673,000."This has been a very important year for Timestrip. We have achieved substantial growth whilst reducing our cost base and losses incurred," said chief executive Paul Freedman."We have significantly broadened our product range and thus expanded the appeal of our products into new markets," he added.