On 5 May, Loqus Holdings plc (formerly Datatrak Holdings plc) published its Interim Directors’ Statement revealing that since the publication of the interim results to 31 December 2009 last February, there has been no significant change in the financial position of the Group. The Directors explained that Loqus is still being impacted by the international economic situation although moderate positive progress is expected in the second half of 2010. Nonetheless Loqus managed to maintain its client base. Moreover operational costs are in line with expectations and the Group is constantly striving to mitigate any increases.
In the Interim Statement, it was confirmed that Loqus commenced work in February 2010 on the important LEMIS contract for the Government Property Division. Furthermore, Loqus was also recently awarded a contract by MITA for the Provision of online e-Forms and Related Services. At the same time the Group continues to place emphasis on new areas of growth. The European Research and Development Fund (ERDF) grant will enable the Group to undertake comprehensive research and product development in order for the Group’s solutions to remain competitive and technologically advanced.
In conclusion, the Directors stated that going forward the main emphasis will be on safeguarding the operations of the Group, strengthening long term viability and expand market presence.