Archived article
Please note that tax, investment, pension and ISA rules can change and the information and any views contained in this article may now be inaccurate.
Enterprise software group Crimson Tide sad it had experienced a 'negligible' disruption to its business in the wake of the Covid-19 crisis.
The company said a 'very large' percentage of its revenues were provided on a long-term contracted subscription basis with 'a regular cash cycle'.
Many of its clients were at the front line of public services including healthcare, supermarkets and the rail industry, it added.
Crimson Tide said it had a 'strong' balance sheet with a current positive cash balance of about £0.4m with no debt, save for finance leases on operating equipment.
'Crimson Tide has experienced negligible disruption to normal business patterns thus far and the board is comfortable that, even on the basis of sensitised forecasts, the company will remain well funded and operational for the rest of this year and beyond,' it said.
The company said it had made its mpro5 flow product available for free to all NHS workers, which could allow management on smartphone or tablets of cleaning hospital areas.
At 2:05pm: (LON:TIDE) Crimson Tide PLC share price was 0p at 1.58p