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Annual Results

Actual Experience losses widen

19 January 2017 09:20

Actual Experience posts an after-tax loss of £5,671,072 for the eyar to the end of September - up from £2,225,455 in 2015.

The group said the losses were primarily generated by employee costs and related expenses.

Revenue totalled £0.72m (2015: £0.70m), with 60% of the revenue being derived from channel customers (2015: 33%)

Chief executive Dave Page said: "2016 has been a year of significant progress for Actual Experience.

"We have considerably enhanced our scalability as a business while receiving strong market endorsement for our digital analytics service through the signing of two further major channel partner agreements, bringing the total to four major channel partners.

"These agreements mean that some of the world's largest services companies, such as Vodafone, Verizon and Accenture are now actively preparing to take our offering out to their global customer bases, either directly or integrated within their offerings.

"The channel partner agreements that we have signed and the sheer size of the pipeline for potential customers that each represents, we believe, vindicates the Board's decision to focus our sales efforts solely on channel partners rather than through selling direct to individual customers.

"Revenues to date bear no resemblance to the market opportunity nor to the progress being made within each of our agreements, and it is this progress that underlines our belief that we are on the right path towards building a business of real scale."

At 9:20am: (LON:ACT) Actual Experience Plc share price was 0p at 277.5p

Story provided by StockMarketWire.com

Related Company: ACT

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