Losses increase at Lagan despite revenue growth

Belfast-based software firm Lagan Technologies grew its turnover by 41 per cent but increased its losses after having to make several write-offs.

24th February, 2013

Belfast-based software firm Lagan Technologies grew its turnover by 41 per cent but increased its losses after having to make several write-offs.

New accounts for the firm reveal that turnover grew to £14.5 million (€16.8 million) in the year ending December 31 2011, up from £10.2 million in its previous, shortened financial year, which ran from April 3, 2010 to December 31, 2010.

The company made a net loss of £6.2 million in 2011, which was up significantly from the £2.5 million...

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