alphyra H1 revenues down 8 percent

Irish tech company, Alphyra has reported earnings for H1 ended 30th June. The company reported an 8 percent drop in its H1 revenue from H2, 2002.

Revenues dropped from €25.8m to €23.8m. However, EBITDA rose by 50 percent from the previous period, from €2m to €3m. Operating loss before goodwill was €0.72m. However, the group has remained upbeat about future prospects.

Commenting on the results, the group's chairman said: "alphyra has made good progress during the first six months of 2002. The Group's transactions business traded strongly in the period and and encouraging progress has been made against the strategic objectives set at the end of last year."

The group's share price plummeted by over 12 percent to 100p following the announcement.