Checkit eyes profits despite pandemic disruption

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Checkit Plc (LON:CKT) said performance remains encouraging despite the impact of COVID-19 and remains on track to deliver profits.

The workflow management software continues the cautious approach shown in the first half throughout the remainder of the year to maintain momentum in the second half.

READ: Checkit revenue drops 18% in Q2 as COVID-19 delays sales

The AIM-listed firm continued to invest in new product development and product maintenance, for a half-year investment of GBP1mln.

In the six months to July 31, revenues advanced 2% to GBP6mln while loss before tax narrowed 35% to GBP2mln.

Cash at period-end was GBP13mln, down from GBP14mln in January.

Shares dipped 2% to 45p on Wednesday at the opening bell.

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