DUBLIN-QUOTED travel software group Datalex has reported a pretax loss of $1.4 million for 2008.

This compares with a pretax loss of $2.1 million in 2007 and includes amortisation of product development of $3 million, a foreign exchange loss of $0.7 million and interest income of $0.3 million.

Full-year 2008 revenues rose 7 per cent to $33 million, driven by a 44 per cent increase in transaction revenue to $10.8 million and earnings before interest, taxes, depreciation and amortisation (Ebitda) of $2 million. The stock closed unchanged in Dublin at 17.5 cent.

The company said revenue growth was “slightly behind expectations”, mainly as a result of the strength of the dollar against euro and sterling in the second half of 2008.

Cash balances at year-end amounted to $14.8 million, down $4.4 million due to product development expenditure and foreign exchange differences.

Datalex said 2009 is expected to be another difficult year for the travel industry. However, its chairman Michael Quinn said the company was well positioned to grow and develop its business this year.

Davy analyst Ivan Skelly said the strengthening of the dollar against the euro and sterling had “a dampening effect on both revenue and non-dollar costs” for the firm last year. On the positive side, Mr Skelly said transaction-based revenues were 44 per cent higher.