A currency boost helped petrol station forecourt software and services group Kalibrate Group PLC (LON:KLBT) in its latest half year but it remained a challenging period for the group due to delays in orders from new markets.
Revenues in the half year were US$14.1mln (US$15.9mln) and underlying profits US$0.4mln, US$300,00 better than expected due to the currency windfall.
Kalibrate had already flagged that both sales and the bottom line would be below last year due to the order delays and a switch to pay-as-you-go pricing rather than licence deals.
The order sluggishness is still there said Kalibrate and it remains cautious over the timing of when these contracts may close.
There was an interim loss of US$700,000 (US$130,000 profit) and a cost cutting plan has been implemented to save US$3.5mln.
Bob Stein, chief executive, said: “Our core business continues to represent modest growth for the Group and we continue to gain greater market share selling our core products.
“As previously announced, accelerated growth is dependent on creating new business in our Growth/ROW markets whilst at the same time introducing new products and services, such as our Merchandise Pricing/Promotion and B2B/Wholesale platforms, and continuing transitioning of our clients to the SaaS Pricing offering.
“We remain optimistic in the longer term growth of the Growth/ROW markets and the Merchandise Pricing/Promotion and Wholesale/B2B Pricing solutions.”