Boxhill Technologies' revenue rose 13% to £1.125m in the six months to the end of July but operating profits fell to £296,000 from £330,000.
Executive chairman Lord E.T. Razzal said: "The first half of the year has seen some additional administrative expenses through increased board size and ongoing costs of integrating the two companies acquired at the beginning of the year. Having said that we see a 39% improvement in comprehensive income, rising to £288,000 (from £206,000 in the first half of 2015) due to no corporation tax being chargeable.
"As the Company moves forward it is now able to invest in strengthening the teams that are responsible for delivery, and we have appointed a new Head of Finance, reporting to Andrew Flitcroft, the Company's Finance Director, who will be tasked with unifying financial organisation within the Company. Additionally we are continuing to look for a new CEO and will update as and when appropriate."
At 8:53am: (LON:BOX) Boxhill Technologies Plc share price was -0.02p at 0.2p