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Gladstone

  • BY: Andrew Hore |
  • POSTED: 27/02/2009 |

Gladstone says that its first half figures will be in line with those of the six months to February 2008.

This represents a reasonable outturn for the six months to February 2009, given the tough economic conditions and the fact that the cash pile will generate less interest income. The strong recurring revenues from leisure club membership software and strong balance sheet help Gladstone to weather the poor economy.

Gladstone generated a pre-share based payments profit of £776,000 on revenues of £4.4m in the six months to February 2008.

South Lanarkshire Council and the Borough of Bromley have chosen Gladstone software for their leisure centres. That adds 50 sites. Another contract win adds a further 13 sites spread over a number of local authorities.

Shares in Gladstone rose 0.25p to 20p each, which values the membership software provider at £9.66m.

The meeting to vote on the proposal to put Constellation Software Inc’s president Mark Leonard on the Gladstone board will be held on 16 March.

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