News

Nasstar upbeat despite results

21 December 2009 08:38:00

Nasstar, a provider of 'cloud' technology that allows workers to operate from any computer, saw losses widen in the year to September as turnover fell, but cheered the market with an upbeat outlook.

Pre-tax losses in the year to September 30 widened to £940,000 from £130,000 as revenue slipped to £2m from £2.1m.

'As for prospective customers, whilst Nasstar Hosted Desktop can reduce their costs, many decided to hold fire on adopting the service whilst the economy was so fragile,' said chief executive Charles Black.

'We therefore experienced a significant lull in sales activity primarily between November 2008 and June 2009.'

However, he was optimistic on future prospects.

'The fundamentals of this business are far stronger than they were 12 months ago. By that I refer not only to the balance sheet, cash flow and invoiced sales, but also developments in our Hosted Desktop technology and subscriber growth.'

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