News blog
Intelligent Environments
- BY: Andrew Hore |
- POSTED: 17/01/2008 |
Intelligent Environments says that its 2007 revenue growth will be more than 40%.
The online financial applications software provider’s operating profits are in line with expectations. House broker Dawnay Day forecasts pre-tax profits of £720,000 on revenues of £6.22m.
Transactional revenues are building up but slower than hoped. Contracts with European retailers won through the likes of Barclaycard and Royal Bank of Scotland only started to contribute near to the end of the year. Next year they should be more significant. Recurring revenues (transactional and support income) are running at less than one-quarter of turnover - and transactional revenues were less than 5% of total turnover. In 2008 recurring revenues could rise to around one-third.
There is a chance that IE will pay a dividend with its 2008 results but it will have to undergo a capital restructuring before that can happen.
At 8.75p, the shares are trading on less than nine times forecast earnings for 2008.
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