Travel distribution group Datalex today reported pretax losses of $2.1 million for 2007.
It blamed the losses mainly on volatility in foreign currency markets.
The group reported revenue growth of 16 per cent, which it said was driven mainly by a 26 per cent increase in e-business revenue, including a trebling of transaction revenue to $7.5 million.
Chief executive Cormac Whelan said the company also expanded its footprint in the travel agency segment, signing up one of the world's largest travel agencies, Flight Centre.
Cash balances at year end were $19.2 million, a drop of more than $10 million on 2006. Mr Whelan said the decline was largely as a result of product development investment of $6.7 million and an increase in net trade receivables of $6.0 million.
Datalex clients last year included Aer Lingus, South African Airways, Saudi Arabian Airlines and Aerovias de Mexico.