Internet construction database records £960,000 loss for the period to 30 June, against an £843,000 loss in the same period last year.
Internet construction database Asite has suffered a loss of almost £1m for the first half, following on from losses last year.
The internet portal recorded a £960,000 loss for the period to 30 June, against an £843,000 loss in the same period last year. Turnover increased just 1% to £793,000 from £788,000.
Asite claimed its profits had suffered as a result of technical difficulties at the end of 2004, and said that the problems have now been addressed. The firm has also cut back on administration expenses in a bid to improve results.
Asite chairman Colin Goodall said that he believed the performance of the company would improve in the second half. He said: “The board believes that it has implemented required actions to bring Asite to a position of profitable trading in terms of reducing operating costs and improving the technical performance of the Asite platform. With the focus of the business now on sales, the board believes that substantial progress towards profitable trading will be made in the second half of 2005.