The market downturn has hit the company hard, and a huge reorganization that took 5m pounds ($8.2m) a year out of the cost base, cut the loss in the year to March 31 to 5.9m pounds ($9.6m), down from a loss of 57.6m pounds ($93.9m) on revenue 47.6% lower at 25.2m pounds ($47.1m).
Most of the decline in revenue was down to the disposal of its ERP division, and the company moved back into breakeven in the second half before reorganization costs. It said that supply chain execution and services will be an area that will pick up quickly once corporate confidence returns.
Kewill’s confidence in its growth prospects has been boosted by research that shows that 78% of the UK’s top 60 retailers still use email and fax as the main way of communicating with suppliers. There are further grounds for hope with the fact that many small, and often seasonal suppliers, have up to now not had the means to link up with their customers’ systems. Kewill’s purchase of web-enabling technology will make this a far cheaper process.
Source: Computerwire
