Synety (AIM:SNTY) horrid interim results but is there potential?
Interim results from the provider of ‘computer telephony integration software’ looked fairly horrid with growing losses and an operating cash outflow. We understand what this business is trying to do but question whether it has the resources to succeed in what has becoming a very competitive environment.
The mission statement itself suggests grand plans: “Our aim is to turn SYNETY into a worldwide market leader in integrated communications, but more than that, we want to make CloudCall the hub that connects a business to its CRM system and therefore, its customer data.” For the six months 30 June 2015 the Group generated revenues of £1.4m which resulted in an operating loss of £2.5m. The operating cash outflow was £2.4m with the fund raise in the period boosting the coffers by a net £3m resulting in period end cash of £3m. The results statement highlighted the fact that…