The directors reveal that net billings – invoiced sales less reseller commission – were £46.6 million across the group, representing 14 per cent growth on the prior year.
The accounts show that the business recorded pretax losses of £40.66 million. This arose chiefly from combined non-cash amortisation and depreciation costs of £26.15 million and interest payments of £21 million. The interest payments are made up of bank interest payments of £4.08 million, £8.6 million in shareholder loan interest and £7.98 million in preference shares interest.