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Clarity Commerce Solutions
- BY: Andrew Hore |
- POSTED: 29/11/2010 |
IT services and software provider Clarity Commerce Solutions is behind plan for its financial year but it still believes that it can hit its broker’s forecast.
Arbuthnot forecasts a profit of £2.5m in the year to March 2010. In the six months to September 2010, Clarity swung from a profit of £400,000 to a loss of £663,000 with revenues 8% higher at £9.47m. That was down to a £1m contribution from IT held desk services provider Cyntergy which was acquired in the previous year. Clarity will have to generate revenues of £14.9m in the second half in order to meet expectations. Costs are higher because of increased spending on marketing.
Recurring revenues are two-fifths of total revenues.
At 37p a share, Clarity is valued at £15.3m. The shares are trading on seven times prospective earnings for 2010-11.
Net debt was £65,000 at the end of September 2010. There is also just over £1m of deferred consideration that could be payable.
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