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February 7, 1999


By CBR Staff Writer

Italian ERP developer Gruppo Formula SpA has reported a net loss of the equivalent of $3.4m for the six months to December 31, 1998, on revenue that rose 44% to $24m. This compared to a loss of $2.25m in the same period of the previous fiscal year. At the pre-tax level, the loss was $2.29m. The company said it normally reports a loss in the first half of the fiscal year, compensated by a profit in the second half, though this year the situation was exacerbated by a fall in new license sales, with most of its revenues deriving from services to existing customers.

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