Outsourcery upbeat after mixed bag in first post-IPO numbers

Sales growing nicely and heavy losses narrowing as cloud outfit points to partnerships

Outsourcery claims it is "highly confident" about its growth prospects for the coming year in its first set of numbers published since its initial public offering (IPO) in May. The figures show solid revenue growth, but the company continues to operate at a loss of more than £2m a quarter.

For the six months to 30 June, the Manchester-headquartered firm grew turnover by 23.5 per cent annually to £2.1m, with £1.5m of this coming from recurring revenue streams. But operating losses stood at £4.34m, down slightly from the £4.53m posted in the corresponding period last year.

Key developments cited include growing the partner network more than twofold since the flotation, with 370 VARs now reportedly signed up. Outsourcery also pointed to its recent agreement with distribution monolith Ingram Micro, and the announcement earlier this week of a partnership with Microsoft to provide services to central government customers.

Chief executive Piers Linney said: "The fund raising at the IPO has provided us with further resources to build the business and consolidate our market position as a pure-play cloud service provider. Recently we have seen a number of exciting revenue growth-related developments among our existing business pipeline as well as new growth opportunities.

"A number of our large strategic partners will commence revenue generation during the last quarter and we remain on track to achieve our revenue growth target for the full year while being highly confident about our growth prospects for 2014."