UK market data outfit Knowledge Technology Solutions is reporting a big surge in turnover, but wider losses in the six months to end-December 2004.
The company, which claims to have captured three per cent of the UK market data terminal market, reported total revenue for the first half of £0.3 million, against £45,000 in the year-ago period. Losses before tax also grew to £0.4 million, against £0.3 million in H1 2002.
Annualised contracted managed service revenue now exceeds £850,000 up 70% since publication of KTS' annual results in October 2003.
KTS recently recruited former London Stock Exchange chief executive Gavin Casey as chairman. He comments: "Sales of the QuoteTerminal service, which provides financial data on the UK market, have grown strongly and have now reached more than 80 individual client organisations."
Development of MarketTerminal, the firm's international market data application service covering major US and European exchanges, is now complete, he says, and is expected to extend the addressable market for KTS to $2.7bn per annum
"The platform...will provide market data solutions for the whole of the equity market data services industry and should support our longer term strategy of broadening the customer base by extending into-adjacent market sectors."
The package did not generate revenues during the first half when it entered beta trials but is positioned for commercial release during the second half of this year, adds KTS chief executive Marc Pinter-Krainer.