Further losses by Eontec to end 2002

Banking software firm Eontec has seen losses continue as turnover for the year to end December 2002 fell by nearly 2 million.

Eontec, which provides software and IT services to institutions such as Bank of Ireland and Canadian Imperial Bank of Commerce, saw losses of 8.8 million, down on 2001, but still large for a firm its size.

Turnover for the year fell from 17.1m to 15.3m, according to accounts filed recently at the Companies Registration Office, which show the drop in turnover came mainly from a dip in software licence revenue, which fell to 3.4m from 5.78m.