Gosh it’s tough on the High Street. And even tougher for software companies whose focus market is early-stage fashion businesses. Which is probably why AIM-listed Prologic suffered a £7m net loss this year (to 31st March) on revenues that barely crept up 1% to £9.9m. Prologic is also embarking on the ‘on-premise-to-SaaS’ journey, scoring its first sale during the year to Pretty Green.
I can absolutely understand the need for 'market focus' as the fashion sector has no shortage of players. For example, K3 is very much chasing this space (see K3 takes another bite from FD Systems). But fashion start-ups are surely not flush with cash, so the quicker that Prologic can move its products to SaaS delivery the better. Prologic listed on AIM in July 2004 at 75p, capitalising the company at £7.5m. Its shares were last traded at 37p.