Pinnacle Technology, the IT managed services group under new management since last year, has more than halved its first-half loss to £520,000.
It has also appointed as a non-executive Simon Duckworth, who has sat on the boards of investment trusts and AIM-listed companies and is the senior non-executive at the Serious Fraud Office.
Revenues were down from £4.26million to £3.99m while recurring revenues held up at 87.6 per cent which the group said offered "a strong base for future growth".
Pinnacle strengthened its balance sheet during the period raising £560,000 and it signed a partnership deal with O2. In April its shares rallied 30 per cent on a further fundraising worth £860,000.
The last full year loss fell from £2.44m to £1.95m under chief executive Nicholas Scallan who arrived in March 2014. The shares were unchanged at 7p.
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