Things are in place at Superscape VR Plc for strong growth in the future, according to chairman Martin Hornby. Meanwhile, the Aldermaston, Berkshire virtual reality software company recorded net and pre-tax losses for the six months to the end of January of ú844,658, up from losses of ú73,280 last time. The figures are compared against the pro-forma results of Superscape Ltd, the only trading company at that time. During the second half the headcount increased to 45 from 20 – mostly in sales and marketing – but as most joined between November and January they could not be expected to make a significant contribution yet. Software sales increased by 71% to ú343,138 in the half. Overall sales in the UK – Superscape’s biggest market – actually dropped, but increased elsewhere, most significantly in the US and Asia, up 104% to ú123,382. The Californian sales and marketing subsidiary has been up and running since the start of the year, and has won customers including Motorola Inc, American Express C o and MCI Communications Inc. Superscape’s first reseller in Japan, Missho Electronics has been successful in selling Superscape products and generating interest from around 200 Japanese coporations. Repeat business has been won in Taiwan and Korea and the first orders have come from the reseller in Singapore. New customers in Europe include Deutsche Telekom AG, the London International Financial Futures Exchange and Barclays Bank Plc. A reseller in Israel has been appointed and the first orders won from South Africa. Research and development costs stood at ú131,035, almost as much as for the whole of the previous year and representing some 27% of turnover in the half. Cash balances are ú1.6m and no dividend will be paid. Hornby is predicting a further loss in the second half while the full cost of the new staff is funded. He says he does not anticipate taking on any more people until sales rise to justify the costs.
