Development costs drive Meridio stg£3.8m into red

Belfast software firm Meridio returned to the red last year after investing heavily in research and development (R&D) and international sales and marketing.

3rd June, 2006

Belfast software firm Meridio returned to the red last year after investing heavily in research and development (R&D) and international sales and marketing.

The company made a pretax loss of stg£3.8 million on turnover of stg£6.4 million in the year to the end of June, according to accounts just filed.

In the previous year, it made a pre-tax profit of almost stg£911,000 on turnover of stg£7.3 million.

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