eXpansys, an online retailer of wireless technology, has reported revenues of GBP69.7 million for the year ended April 30, 2008, a 29% increase, compared to GBP54.1 million for the year ended April 30, 2007.
The company reported that pre-tax loss widened to GBP2.5 million, compared to GBP0.8 million in the prior year. Gross profit margin was stable at 22.2%.
Barry Roberts, chairman of eXpansys, said: Overall, the outlook in all our markets remains challenging but, by taking steps to reduce our cost base earlier than many of our competitors, I believe that our position relative to them has been strengthened.
While our first year as an AIM listed company has been a disappointment to all involved in the business, the board still believes that eXpansys has a profitable and exciting future and we have ended the year a stronger and leaner group, which is more focused on and prepared for the challenges and opportunities which lie ahead.