EG Solutions (AIM:EGS) - Gooch drops down the order, Baker-Bates retires hurt
The global back office optimisation software company (whatever that is!) and a business we commented on back on 7th February (“EG Solutions is a prime example of why investors should be wary of the AIM Admission Document”) issued some horrendous results yesterday.
While the Group is “committed to customer satisfaction” (their own words) it’s a pity outside shareholders haven’t received the same commitment since listing. Half year results for the six months ending 31 July 2013 presented Revenue of a meagre £2.2m and a £525k loss. The results reflect the investment made in the Strategic Distribution Partnership with Aspect in the Americas and Asia, as well as in their own direct sales channel in EMEA. The Outlook statement was extremely positive with sales opportunities that have resulted from the investment underpinning management’s confidence in making “a quantum shift in the scale and…