Orchestream doubles sales

NEWS Orchestream bucked the telco market trend after doubling its quarter on quarter sales revealed by the release of its second quarter and half-year results. First half revenues are up from £557,000 at the same period last year to £6.9m and Q2 revenues are up from £2.2m in Q1 to £4.7m. Ashley Ward, Orchestream CEO said on the "basis of no further deterioration in market conditions" he is confident sales will continue to grow. The UK network management software provider reported a pre-tax loss of £9.8m compared to a loss of £5.6m in the same period a year ago. Initially Orchestream shares surged on the news up to 65p, but by 11:30am BST they had fallen back to their overnight price of 61.50p.