News blog
eg solutions
- BY: Andrew Hore |
- POSTED: 22/09/2010 |
Operations management software supplier eg solutions produced a continued recovery in the six months to July 2010.
Stripping out £67,000 of acquisition costs, the profit improved from £56,000 to £145,000 on a 15% increase in revenues to £2.41m. The figures benefited from the acquisition of XTAQ in March. The mix of sales is changing and three-quarters of revenues are likely to be software in the future.
Net cash was £630,000 at the end of July 2010.
July and August were quiet. The company already has 78% of this year’s expected revenues in the bag and there should be more contract news to come. Arbuthnot forecasts a full year profit of £310,000.
The company would like to make another add-on acquisition like XTAQ, which has a product that is different but fits with the existing product range and helps to broaden the range of sectors covered by eg solutions. Financial services remains the dominant sector.
At 66.5p a share, eg solutions is valued at £9.51m.
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