Business
AGM Statement
AGM Statement.
About this update from Rosslyn Data Technologies Plc
[{"type":"text","content":"\n \nRNS Number : 6928F Rosslyn Data Technologies PLC 30 October 2018 \n\n \n30 October 2018\n \nRosslyn Data Technologies plc\n('Rosslyn', 'the Company' or 'the Group')\n \nAGM Statement\n \nThe Chairman will deliver the following trading update to investors at the Company's Annual General Meeting, which is due to be held at 11.00 a.m. today:\n\"I am pleased to report to our Annual General Meeting that we have made good progress since the beginning of this financial year. The strategy, outlined to investors last year, is on track and we are overall very satisfied with progress to date.\n\"Since the start of this financial year, management has been focused on delivering the growth expectations for this year and beyond, ensuring that the Group is in a position to achieve its forecasts and targets for the year. To that end, we have been concentrating our attention on opportunities to introduce significant efficiencies into the company whilst delivering the RAPid platform to a wide audience. This process is continuous, and we will focus our efforts on growing our client base and expanding our offerings to our current clients, whilst maintaining a streamlined efficient operation. Our focus on revenue generation within the high growth procurement and supply chain domain is proving to be positive and we have secured two significant contracts since the year end from global organisations.\n\"Management have been cognisant of the Company's cash position and have significantly reduced cash burn, reducing the burn from £1.3M in the first half of last year to less than £200K for the current first half. As the second half of our fiscal year has a significantly lower cash burn, this gives us confidence we will end the year in a cashflow positive position.\n\"With regard to product development, our team of expert developers continue to build technologies which disrupt the market. Our RAPid Extract Studio, enabling fast and efficient automated extraction from the major ERP systems and extraneous data sources, brings together simplicity and speed whilst our dynamic data scheme and data AI engine, delivers exceptional functionality and flexibility to address our client's ever-changing data needs for accurate insights. In addition, our automated processes (RPA) for event driven analytics are at the leading-edge of the mar...