News blog
Prologic
- BY: Andrew Hore |
- POSTED: 07/12/2009 |
Retail software systems provider Prologic continues to find trading tough.
Revenues fell 4% to £4.81m in the six months to September 2009 - recurring revenues account for 54% of the total. The profit fell from £40,000 to £8,000.
There is net cash of £1.19m. There was a small cash inflow during the period even after £925,000 of capitalised development spending, compared with £505,000 of amortisation.
Prologic has won a £750,000 contract with camping equipment retailer Go Outdoors. Prologic hopes that its new eCommerce software will help it to win significant new business next year.
At 37.5p a share, Prologic is valued at £3.75m. Net asset value is £11.4m, although that is all accounted for by development costs and goodwill.
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