Losses narrow at Outsourcery as sales rise

Piers Linney insists firm is on the 'path to profitability'

Losses at cloud firm Outsourcery narrowed in 2014 as revenue rose by more than 40 per cent.

In 2014, group revenue rose 42 per cent year on year to £7.4m, driven mainly by a boost in recurring revenue, which grew 71 per cent to £7.1m. Its non-recurring revenue slumped by the same amount to £0.3m over the same period.

Losses narrowed from £8.8m in 2013 to £6.3m in 2014. The firm claims an organisational restructure meant it managed to save £1m in operating costs.

Outsourcery's chief executive Piers Linney (pictured) insisted the company was on a "clear path to profitability".

"Following a tough year during which we restructured our cost base, operations and go-to-market strategy, we have started the new year in a strong competitive position," he said.

"Our commercial and public sector sales pipelines are growing. In the year ahead we will focus on ensuring that we maintain our competitive advantage as well as embracing exciting new opportunities such as the launch of our carrier-grade Skype for Business service."