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Share Watch: Hot-desking company could be hot property
Posted by admin as Nasstar, Press Releases
Financial Times, By Philip Stafford
Aim-listed Nasstar is effectively a bet on a future trend in computing. It is developing a hosted desktop, whereby customers can access all their desktop applications through the internet, rather than have companies spend cash on their own IT servers and systems. This is a trend that Google and Microsoft are both betting on. This week, Nasstar’s technology was recognised as “Business Application of the Year” at the CNET Networks UK Business Awards and in September it won a four-year deal from Allied Healthcare. House broker Ambrian is now forecasting full-year revenue to March 31 to double to £2.2m with a pre-tax losses narrowing from £348,000 to £18,000. The absence of a profit warning this week also suggests Nasstar has met interim expectations. Its shares have dropped 30 per cent in the last three months, but its technology may make it a takeover target for a big company looking for a route into a fast-growing market.
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