Travel software group Datalex has reported a pre-tax loss of $177,000 for the year ending December 2004, an improvement on the loss of $7.2m in 2003.
Datalex said its overall revenues grew by 5% in the year. E-business revenue grew by 13% from $21.2m to $23.9m. However, this increase was offset by a reduction in consulting revenues of 15% from $7.9m to $6.7m.
Cost of sales reduced by 2% from $19.9m to $19.4m. This along with the increased revenues resulted in an increase in the gross profit by 21% from $9.2m to $11.2m.
'This increased gross margin of $1.9m together with operation reductions of $6.2m were the main contributors to the dramatic reduction in the loss to $0.2m from $7.2m,' the company said.
'2004 was an important year for Datalex and our mission to get back to delivering real value to our three main stakeholders, our customers, our shareholders and our employees,' said Cormac Whelan, Datalex CEO.
'This is an exciting market at the moment, deregulation is happening all around us and global travel spend is due to double over the next 36 months,' he added.
'Datalex and its travel distribution platform are uniquely positioned to take advantage of these exciting dynamics in the next couple of years,' he said.
Datalex shares closed one cent higher at 40 cent in Dublin.
