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Stilo International

  • BY: Andrew Hore |
  • POSTED: 25/09/2008 |

Stilo International swung back into profit in the first half of 2008.

Revenues improved 3% to £1.29m, while a loss of £39,000 – after an exceptional charge of £37,000 - was turned into a profit of £137,000. There were capitalised development costs of £45,000 – there were none in the first half of 2007. Overall product development spending was doubled.

The move to profit was helped by a 6% fall in operating costs. The closure of the Paris office generated most of the saving.

Content management software supplier Stilo’s cash balance has improved from £236,000 to £572,000 over the six months to June 2008. In June, Stilo raised £89,000 from a share subscription by chief executive Les Burnham and another director.

The XML content processing operations increased revenues but the documentation management operations were hit by delays in orders.

In May, Stilo launched JETView, a digital publishing package for airline maintenance documentation, developed and marketed in association with ABX Air Inc. There are other new products planned.

New customers signed up in the past few months include AgustaWestland, BAE and Schlumberger.

At 2.55p a share, Stilo is valued at £2.8m.

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