Blue Prism operating losses widen as rising costs weigh
Source - SMW
Robotic process automation group Blue Prism reported Tuesday a wider first-half operating loss despite a 145% jump in revenue as the company's strategy to foster global growth increased costs.
For the six months to 30 April 2018, losses from operations were £5.5m, wider than the £3.1m seen the same period a year ago, revenue increased 145% to £22.9m from £9.3m, while administrative expenses more than doubled to £27.1m from £12.0m the same year period a year ago.
The company signed 559 licence deals in the first-half of the year, well above the 209 in the same period a year ago.
'The sales momentum we have seen so far this year, coupled with a solid pipeline and increasing support from our partner network, gives us continued confidence as we go into the second half and beyond,' the company said. At 9:30am: (LON:PRSM) Blue Prism Group Plc share price was -79p at 1781p