Horizon Technology said today it is "cautiously optimistic" that modest growth could be achieved this year as tough market conditions persist.
In its interim results statement published today, the company posted a diluted loss per share of 30.26 cents after exceptional restructuring costs and the write down of goodwill on recent acquisitions.
Underlying trading performance - from continuing activities excluding amortisation of intangibles - showed a loss of 0.18 cents per share.
Revenue was down 8.3 per cent, but with gross profit margin improving to 17 per cent from 16.6 per cent the previous year.
"Current market conditions remain difficult but a number of key indicators suggest that the environment has reached the bottom of the cycle particularly in the UK and, as a result, the group is cautiously optimistic that modest growth can be achieved in the current year," the company said.
Its British Internet services businesses grew their revenues in the October-December period, "and indications, from the beginning of the current year, are that this growth is continuing".
The distribution and channel services division is performing in line with expectations, it said.
AFP