Ffastfill increases turnover and reduces losses
13 November 2003 | 2662 views | 0
London trading technology vendor Ffastfill is reporting a 317% increase in turnover to £1.6m for the six months ending 30 September 2003 and has reduced operating losses from £2.7m to £1.2m.
The vendor also reduced operating loss on continuing operations to £0.969m (2002 £2.467m). Cash at 30 September 2003 was £1.588m million (2002 £2.445m) and during the period the company raised new funding of £1.530 million before expenses.
In a statement, Keith Todd, Ffastfill chairman, says: "We now have a strong pipeline, which will lead to more new customer signings later this financial year."
Todd says costs were kept under tight control to make room for a marketing campaign in support of the firm's US business and investment in products to be released next year.
The firm has also released new software on time during the six months and plans to begin offering its products on an ASP basis next month.