News blog
Gladstone
- BY: Andrew Hore |
- POSTED: 29/11/2007 |
Membership software developer Gladstone continues to generate cash from its health and leisure business in order to finance the development of its education activities.
Pre-amortisation profits increased from £1.38m to £1.66m in the year to August 2007. Most of that improvement came from cost cutting. Capitalised development spending on the Gladstone Orbit software platform was £100,000 – nil last year. A new development facility has opened in Karachi.
Gladstone is in a strong position in the health and leisure market and has recurring revenues of more than £3.3m, out of turnover of £9.19m. This part of the business should continue to generate cash and there are some growth opportunities, particularly in Australia. However, it is the education sector that has the greatest potential growth.
Education turnover is only a small percentage of the group total at the moment. Gladstone OnRecord software covers cashless payments and e-registration. Government has earmarked cash for spending in this area and Gladstone has won initial business.
Gladstone had net cash of £5m and net tangible assets of 11p a share at the end of August. Share buy backs, at 22p and 22.5p a share, will use up £740,000 of that cash.
© 2024 Aim Micro. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
- Browse by issue
- All issues
- Popular tags
- All tags
- AIM Micro feeds
Keep up to date with articles published at AIMMicro.com. Subscribe to AIM Micro RSS Feeds
|