Malta-based ICT solutions provider Loqus Holdings plc has posted a profit of €118,000, compared to 2023/2024’s loss of €625,000, in an environment that “demanded discipline, adaptability and careful decision-making.”

Profit before tax amounted to €220,006, compared to last year’s loss of €648,024.

The recent achieved results, reported in the company's Annual Report and Financial Statements, were also attributed to a nine per cent increase in revenue, driven by growth in the openFleet product line – a platform which manages the delivery cycle from warehouse to customer – and the onboarding of a strategic client.

The group recorded its highest-ever revenue, nearing €13 million, highlighting consistent growth and renewed stability.

While the company itself recorded a pre-tax loss of €155,626 (2024: €146,915), the group’s overall results underscore its commitment to sustainable performance and prudent financial management, the company said.

Recurring revenue now accounts for 91 per cent of total revenue, and all clients with expired contracts renewed, ensuring revenue continuity. Operational restructuring, including headcount reduction and resource realignment, improved efficiency and supported new client rollout.

R&D spending was slightly lower, though product innovation remains a priority, according to Loqus.

The directors also highlight the conditional voluntary public takeover bid, when in August, Loqus was notified by JFC Holdings Limited of its intention to launch a conditional voluntary public take over bid.

Through the offer, JFC Holdings Limited acquired 3,044,737 shares in Loqus, representing approximately 9.54 per cent of the company’s issued share capital. This brought JFC Holdings' total shareholding in Loqus to 59.4 per cent,

The group is also expanding its European partner network and pursuing growth through four pillars: market diversification beyond the UK, increased brand visibility, faster revenue through agile deployment and customer-focused innovation