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.
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.
