Latest Asite results

Simultaneously with last week’s announcement of Asite’s change of CEO (see preceding post), was the Stock Exchange announcement of Asite’s final results for the year ending 31 December 2005.

Turnover was down 9% on the previous year at £1.529m (from 2004 figure of £1.674). Underlying trends were a little more optimistic – for example, the rate of losses stemmed somewhat during the second half of 2005, and operating costs were reduced – but the business has yet to return a profit and will, it admits, require additional funding to survive to the end of 2007.

The financial figures make depressing reading against other players in the UK collaboration market – last month, 4Projects, for example, declared a £270k profit on turnover of just over £2m (see post here).

And while the numbers of users of Asite’s collaboration product are growing  – up 5,000 during 2005 – they are not growing at anything like the rate displayed by BIW Technologies. BIW added over 12,000 users during 2005, according to its January 2006 press release, and has since added over 7,400 further users – its website today gives a total user base figure of 59,697.

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  1. […] slide in Asite’s turnover shows no sign of abating (see previous posts on interims and 2005 results; this is not a ‘dip’ in sales, as Hemscott reports). Turnover for 2006 was down 11% to […]

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