ISE listed Thirdforce, which was formerly know as Rapid technology has announced this morning its change of business stratgy has been a success.
Full year results to June 30 2003 includes nine months of trading as the Rapid Technology Group plus three months of Electric Paper's contribution.
Turnover increased by 19.2% to €3.9m. The net loss after tax and interest improved by 11.3% to €1.5m. Overall net operating expenses increased by 42.5% to €3.6m.
With the acquisition of Electric Paper, Thirdforce has established itself in a strong position in the elearning sector, the company said.
In a statement chairman Pat McDonagh said that despite the slowdown in the technology sector, the global elearning market continues to offer significant growth opportunities.
