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KRM22 narrows annual losses on cost cuts, uptick in revenue
StockMarketWire.com
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Technology and software company KRM22 reported narrower annual losses as cost cuts and higher revenue boosted performance.
For the year ended 31 December 2020, pre-tax losses narrowed to £5.7 million from £7.3 million last year as revenue rose to £4.6 million from £4.1 million.
Continued tight control of the cost base, the full year effect of company reorganisations completed in 2019, and a further reorganisation in 2020, helped narrower losses.
'In 2020 we secured £0.8m of new business however this organic growth was offset by an unprecedented level of existing customer churn in the year, the company said.
'We now have a strong sales pipeline and suite of risk products on the GRP that will be the springboard for our future growth and delivery of the market expectations,' the company said.
At 9:37am: (LON:KRM) Krm22 Plc Ord 10p share price was 0p at 35p
Story provided by StockMarketWire.com
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