Datalex posts first-half losses down $17m

Dublin-based travel communications software firm Datalex has confirmed first-half losses in line with expectations today.

Dublin-based travel communications software firm Datalex has confirmed first-half losses in line with expectations today.

It announced a cut in pretax loss to $12.9 million from a loss of €29 million a year earlier.

In the period, Datalex's operating costs were reduced by over 40 per cent on the comparative interim figures amid a rebound in the travel industry, according to Datalex chief executive Mr Neil Beck.

"Datalex is well positioned to capitalise on these improving market conditions," he said.

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For the first half, the operating loss before goodwill amortization and the fair-value charge of share awards to employees reduced from $15.5 million in the first half 2001 to $7.2 million in the first half 2002.

Operating expenses were cut from $18.9 million in first half 2001 to $10.5 million in first half 2002. The net cash balance at the end of June was $41.8 million. Turnover for the half year was $11.5 million, down from $17.97 million.

Conor Pope

Conor Pope

Conor Pope is Consumer Affairs Correspondent, Pricewatch Editor and cohost of the In the News podcast