Synchronica narrows loss on sales boom
UK-based mobile email and messaging company Synchronica narrowed its losses significantly in the first half of 2010 thanks to surging sales.
Synchronica's pre-tax loss fell to £1.34 million (€1.6 million) from £2.49 million in 1H09, while revenue more than doubled to £3.43 million, from £1.33 million a year earlier.
First-half sales were 90% of FY09's full year revenues of £3.8 million.
CEO Carsten Brinkschulte said the 1H gains were the result of the launch of a new low-cost messaging service, winning ten deals with mobile device manufacturers, and the acquisition of Colibria's instant messaging and presence server (IMPS) business in Latin America.
The firm’s costs increased to £4.1 million from £3.5 million in 1H09, but gross margin remained high at 96%.