Lossius to step down at Publishing Technology

Lossius to step down at Publishing Technology

George Lossius is soon to step down as Publishing Technology’s chief executive.

The move was announced as the company released its annual report and accounts today (3rd March).

Lossius plans to step down “in the near future” but the board is yet to agree a replacement for him. However, he will remain on the Publishing Technology board as a non-executive director.

Lossius said: “I have enjoyed leading Publishing Technology through a period of development but I believe, and the Board supports my thinking on this, that it is the right time to transition the leadership of Publishing Technology from having a focus of product development, to one that focuses more on business development and implementation, and that it is right to do so under a new c.e.o . I look forward to supporting my successor as a non-executive Board Director in the years ahead.”

Martyn Rose, chairman of Publishing Technology, added: “I would like to thank George for his eight years of service to Publishing Technology, and previously Vista as chief executive. His leadership of the company, our investment in new products and new markets, will stand the business in good stead for the years to come.”

Publishing Technology provides content solutions for publishers as well as audience development and content delivery software and services.

Publishing Technology's annual report revealed that gross revenues were up 4% to £16.9m in the year to December, up from £16.3m in 2012. Gross profit, meanwhile, was down down 2% to £5.8m year-on-year, but the company reported that pretax profits were up 135% to £0.7m.

In the report, Rose said: “Growth in revenue and profitability were lower than previously expected due to delays in three large implementations of advance and pub2web. However, the second half of the year saw substantial progress with advance and two large pub2web platforms going live (originally expected in the first half). The resulting transition to recurring maintenance and hosting revenue from these projects, although starting later than expected, now provides a higher recurring revenue base from which incremental revenue can grow in 2014 and beyond."