News blog
Prologic
- BY: Andrew Hore |
- POSTED: 13/12/2010 |
Retail software systems provider Prologic’s new chief executive Tom Fischer believes that the company’s new Software-as-a-Service capability will increase its potential market.
Revenues edged up from £4.81m to £4.94m in the six months to September 2010. Recurring revenues are 53% of the total. The pre-tax profit improved from £8,000 to £80,000 even though more was spent on sales and marketing.
Existing customers have been opening new stores which has helped to boost revenues even though there has been a lack of new clients. New fashion retailer Pretty Green has been signed up as the company’s first Software-as-a-Service customer since September. There has also been a general upturn in potential new business.
House broker Arbuthnot forecasts a full year profit of £170,000, which puts the shares on 36 times prospective 2010-11 earnings, falling to 17 in 2011-12.
The business is cash generative and net cash was £1.56m at the end of September 2010.
At 50p a share, Prologic is valued at £5m.
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