It’s not that often we get to see a P&L with losses three times greater than revenues, but such is the case for buy-and-build (and sell) merchant, Avisen. It’s not worth pouring over the numbers too much as they are still in the early stages of wondering what they want to be when they grow up. But, for the record, Avisen made a £7.7m operating loss on £2.6m in revenues for the ongoing businesses in the year to 31st January (Ed: January? - a little slow on the reporting, gents!).
You may recall that Avisen disposed of its only profitable business, Inca (IBM’s largest UK Cognos partner) earlier this year (see Logicalis inks Inca buy from Avisen). This leaves Avisen with two divisions, the eponymous ‘management consulting’ arm (actually, a reseller of Acorn Systems’ software, for which, to be fair, a licence has just been sold to Unilever), and Storage Fusion, a purveyor of SaaS storage management products.
Interim non-exec chairman, Mark Battles, noted that Avisen needs to build scale and is hot on the acquisition trail. I really can’t wait to see what they come up with next.