News blog
Netcall
- BY: Andrew Hore |
- POSTED: 29/09/2008 |
- COMMENTS: Add yours
Netcall had a stronger second half to its financial year but it didn’t make up all the profit shortfall at the interim stage.
The telecoms call-back and auto-messaging software provider reported a fall in profits from £898,000 to £709,000 in the year to June 2008. Revenues slipped from £4.1m to £3.6m.
Variable costs were cut by £300,000 and fixed cost increases were small. Both fixed and variable costs are below 2004 levels.
Distribution partners, predominantly BT and Cable & Wireless account for 52% of turnover and this could grow as a percentage. This may also be a way of expanding internationally but this will take some time.
One of Netcall’s strengths is that its hosted model means that recurring revenues account for just over three-quarters of group revenues.
The core customer base is financial services companies. That is a tough market but Netcall’s call centre software will help them to cut costs and reduce the potential aggravation of their customers. Netcall certainly says that trading in the first quarter has been stronger than the same period last year.
There was £2.91m of cash in the bank at the end of June and that has increased since then. At 8.5p a share, Netcall is valued at £5.61m.
House broker Evolution forecasts flat profits this year, which puts the shares on less than 10 times prospective earnings.
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