Rosslyn Data Tech continues to trade positively

Rosslyn Data Technologies said over the first half of the year it has continued to trade positively and build on its foundations of growth.

"Most notably we have added a further FTSE 100 and a Fortune 100 client, whilst continuing to expand our footprint in our current client base and expand our Partner programme," the company said in a statement.

"We expect solid progress to be made across all fronts in the second half of the year and look to the future with confidence."

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"Our direct sales team continues to make encouraging progress in our target verticals and we are pleased to report that our pipeline continues to grow with positive, credible prospects across Europe.

"We have been shortlisted by a number of major businesses within our target market and, with the help of marketing, continue to raise our profile, meaning that we are now included in most invitations for large data procurement events.

"In addition, our installed client base continues to expand its use of RAPid with the purchase of both new applications and broadening the use of their initial procurement with new users and the expansion in to new business areas.

"Our partner program, which is focused on enabling industry leading consultancies with the RAPid platform, is seeing its relationships broaden and deepen.

"A clear example of this was the recent announcement of our strengthened relationship with Dun and Bradstreet. Although these relationships are still young,, we now have partners who command leadership positions in their markets place and we are in the process of being integrated into their services.

"One is focused on reducing their sales cycles, deployment lead times and enhancing their existing analytical offerings. Rosslyn's solutions enable another of our partners to fill a material gap in their analytical capabilities and services. In addition, our focus on the US market continues to generate new leads into exciting and large corporates.

"Our progress and careful execution has been reflected in the Group's key metrics; our client acquisition rate continues at a steady pace; the average cost of acquiring a new client is trending lower, despite a slow-down in the time to win contracts and both the average and lifetime contract value is trending upward, now being more than 50% greater than at the IPO at over £75,000 per annum.

"These metrics are underpinned by a client churn rate that remains below 5%. The management's focus on achieving cash flow breakeven is progressing and remains on track which the Board believes is encouraging evidence of an emerging, sustainable and valuable business model."