LONDON (Thomson Financial) - Software product developer Tadpole Technology
Plc. slipped to a first-half pretax loss from a profit last year due to a 59
percent fall in revenues and increased investment in new personnel, but said
market opportunities for its products "remain strong".
The company posted a pretax loss of 1.445 million pounds for the six months
to March 31, 2008, compared with a profit of 272,000 pounds in the previous
year, on revenues of 813,000 pounds, down from 1.99 million pounds.
Tadpole said it is now proposing a multistage funding initiative to raise 5
million pounds to support its business plan and strengthen its weak balance
sheet.
On Wednesday, the company said it currently does not have sufficient working
capital for its present requirements but has now attracted "considerable
interest from both sophisticated private investors as well as a number of
financial institutions".
TFN.newsdesk@thomson.com
kal/rw
COPYRIGHT
Copyright Thomson Financial News Limited 2008. All rights reserved.
The copying, republication or redistribution of Thomson Financial News Content,
including by framing or similar means, is expressly prohibited without the prior
written consent of Thomson Financial News.
|