Netdimensions lifts sales and cuts losses

Training and testing software group Netdimensions said its annual losses are likely to less than expected.

The AIM-listed outfit said sales for calendar 2015 would be ahead the prior year at roughly $25m and that, thanks to cost-cutting since 2014, full year losses before interest, tax, depreciation and amortisation will also be better than current market expectations.

Chief executive Jay Shaw said: "We have continued to see growth in our client base, particularly in our targeted area of high consequence industries, and are pleased to report trading for 2015 is in line with market expectations."

Netdimensions in December raised £7.2m to take advantage of what it and its advisers see as growth opportunities available around the world in the enterprise talent management solutions market, with management identifying 'high consequence industries' for its strategy as: healthcare, life sciences, manufacturing, transportation, energy and financial services.

Shares in Netdminensions were up 8% to 60.5p by mid afternoon on Tuesday.