For the year to 31 December 2002 the developer of online print procurement technology saw revenues and losses grow hand in hand. Revenues rose nearly five-fold (486%) to 7m but pre-tax losses grew to 2.98m, compared to 1.6m last year.

An upbeat chief executive Jason Cromack said: I expect to see a significant improvement when we see our interim results [for 2003]. We made significant improvements in revenues in the last half of 2002 and the first half of 2003.

He said TripleArc was moving out of its development phase and had accelerated its sales efforts.

The company invested 700,000 on R&D, 13% less than the previous year. Of that 450,000 was spent in the first half of the year.

Cromack said the companys print management division, Gl2, was performing well. He also expects the firm to benefit from the development of JDF in the run-up to next Mays Drupa.