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Intelligent Environments
- BY: Andrew Hore |
- POSTED: 28/07/2008 |
Intelligent Environments expects this year’s interim operating profits to show a material improvement.
The online financial applications software provider’s revenues are likely to be around 5% lower. That is because of the fall in low margin work but there will be an improvement in profit margins even though research and development spending has been trebled.
In the six months to June 2007, IE reported operating profits of £204,000 on revenues of £3.07m.
Recurring revenues are growing as the plan to switch from one-off sales to recurring income begins to bear fruit. They rose by 38% and account for one-quarter of group revenues.
Net cash improved from £972,000 to £1.03m at the end of June 2008.
There should be a further improvement in the second half as new contracts start to generate income.
The shares recovered 0.75p to 7.375p, which puts a value of £12.1m on the company.
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