WANDISCO - soon to be known as Cirata - has reported a loss in bookings for the first half of the year after the company has battled off crisis after crisis.

Shares in the scandal-stricken firm plunged nearly eight per cent yesterday after it said bookings - the total value of contracts signed during the first six months of the year - fell to $2.8m (£2.2m) in 2023, down from $7.3m over the same period in 2022.

Chief executive Stephen Kelly said the firm anticipates growth in bookings for the second half.

"We are regaining the trust and confidence of our customers and we are setting a path to 'business as usual', with the re-engagement of customers, prospects and partners having reached a level in line with the ambitions of our turnaround plan," he explained.

Wandisco announced a rebrand to 'Cirata' at the start of September in an attempt to turn a new page on its troubled times.

It comes after top executives were forced to step down in April after an internal investigation found $115m in sales was entirely false.

(c) 2023 City A.M., source Newspaper