Software and services company Admerex (ASX:ADL) significantly narrowed its 2009 losses to $1.9 million, from $18.4 million in the prior year.
Revenue grew to $2.49 million from $1.74 million, but losses from the company’s Philippines subsidiary and sales of its Temenos shares – as well as costs associated with winding up discontinued businesses – resulted in a loss.
Executive chairman Kim Goodall said the Admerex board remained committed to creating value for shareholders through the development of a sustainable business.
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