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Access Intelligence
- BY: Andrew Hore |
- POSTED: 26/07/2010 |
- COMMENTS: Add yours
Software-as-a-Service provider Access Intelligence reported strong growth in revenues and profit but uncertainty about public spending means that the outlook is difficult to predict.
Revenues grew from £2.54m to £4.14m in the six months to May 2010. That enable pre-tax profit to jump from £169,000 to £470,000. There was a full contribution from last year’s acquisitions and a few weeks contribution from compliance software firm Cobent - which made a small loss. Recurring revenue increased 65% to £2.4m.
Access Intelligence has sold its WiredGov email information business and this completed its disposal of non-core businesses.
The acquisition of Cobent boosted the private sector customer base but the public sector is still important to the group.
House broker Astaire forecasts a rise in full year profits from £600,000 to £1.4m.
There was net cash of £2.42m at the end of May 2010.
At 4.25p a share, Access Intelligence is valued at £10.8m.
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