- Revenue growth up 93% to Â£2.65m (2003: Â£1.37m)
- Operating loss on continuing activities reduced to Â£2.3m (2003: Â£4.5m)
- Cash at 31 March 2004 Â£0.967m
- Placing in April 2004 raised Â£4m (net of expenses)
- Application Services offering launched in London and three customers signed
- Service management approach implemented and software and service delivery quality improved
- Sales team and prospect list strengthened
- Continued program of quarterly software functionality releases with richer functional software offering.
Commenting on the results, Keith Todd, Executive Chairman of FFastFill, said:
'It has been a year of real progress in which we implemented our declared strategy by launching our applications service and signing the first customers. We have been able to improve our opportunity for further revenue growth as more prospects become aware of our new application services offering. I am also very pleased that we were able to attract a series of institutional investors to participate in the April 2004 placing. While there is much work to be done and we will need to be patient, I am confident of success.'
For further information, please contact:
Keith Todd, Executive Chairman
Caroline Harrison, Company Secretary
020 7665 8900