Alterian looks ahead to double-digit revenue gains in 2013 despite losses

 
City A.M. Reporter
BRITISH marketing software provider Alterian, which posted a first-half loss, sees double-digit revenue growth in 2013 on the strength of its US and Asian markets, its chief executive said yesterday.

“We [can] start to look at increased revenue growth of 15 per cent year-on-year,” chief executive Heath Davies said.

The company, which recently received a revised cash offer from software firm SDL, has been struggling in recent months.

It had issued a profit warning in April and had announced deep cost cuts and workforce reductions last month.

“As you look into 2012, our focus is largely about profit and cash generation,” Davies said.

The US accounts for 39 per cent of the company’s deferred and renewal revenue, while Asia generates 10 per cent of sales.

“With the pace of growth in Asia, I would like to see its revenue double throughout the course of next year,” Davies, who joined the company in July, said.

The company posted a first-half loss as operating costs more than doubled.

Pre-tax loss was £18.6m for the period ended 30 September, compared with a profit of £601,000 last year.

Revenue fell six per cent to £17.2m.