IT services company Glen Group Plc. said first
half pretax loss narrowed to 431,000 pounds from 743,000 pounds in the same
period last year as turnover from continuing business rose nearly 75 percent to
725,695 pounds.
Going forward, the company said it has a strong balance sheet and capital to
rebuild the group.
The company sold its Eclectic and IG Software business for net cash of 2.72
million pounds during the period.
"Although the sale has materially reduced the size of the business, we now
have an income stream that is largely of a recurring nature and we will take a
measured approach to acquisitions, concentrating on telecom-centric businesses
which have recurring revenues," chairman Eric Hagman said.

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