LONDON (Thomson Financial) - netb2b2 PLC widened its full year pretax loss,
saying it had problems with one major project, which continued to depress
trading profitability over the year.
However, it said it looks forward to 2008 with "reasonable confidence."
The company recorded a pretax loss of 396,000 stg for the year to June 30,
2007, compared to a loss of 316,000 stg a year earlier.
Turnover increased by 1 pct to 6.65 mln stg from 6.59 mln stg in the same
period.
Chairman Keith Young said the company is "now better prepared to take
advantage of the commercial opportunities in the digital media arena", after
focusing on good cost control via structural changes in 2007.
"We have targeted markets in media, membership organisations and health and
have won significant contracts in these areas, whilst retaining strong alliances
with Microsoft, IBM and VMware as well as investing in technologies such as
MOSS, Rich Internet Applications and Virtualisation.
The chairman said the group believes it has the products and services that
are at the forefront of digital media, and has developed a good platform for
growth.
The company also said encouraging progress has been made in resolving the
deficit resulting from a pension fund operated by a liquidated subsidiary of the
group, and some writeback has been made of the amount previously provided.
TFN.newsdesk@thomson.com
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