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IS Solutions

  • BY: Andrew Hore |
  • POSTED: 01/04/2012 |

Online technology services provider IS Solutions continues to benefit from its focus on analytics business.

Revenues fell from £11m to £9.06m in 2011 but that was down to a drop in low margin software sales. Recurring revenues rose from £5.35m to £6.04m. Pre-tax profit grew from £684,000 to £830,000 – the interim profit rose from £215,000 to £310,000. This was the sixth successive year of double digit profit growth.

Even after an additional investment of £500,000 in analytics firm SpeedTrap Holdings net debt fell from £836,000 to £732,000 by the end of 2011. IS Solutions should be cash positive by the end of 2012.

The total dividend increased from 1.15p a share to 1.3p a share.

The partnership with SAS is helping the analytics business to grow. Projects revenues should also improve in the first half of this year following a weak first half in 2011.

At 39p a share, IS Solutions is valued at £9.73m.

House broker finnCap forecasts a further rise in profit to £1.1m in 2012. The shares are trading on 10 times prospective 2012 earnings.

Download the latest AIM Journal from http://www.hubinvest.com/AIMPDFMarch2012_30.pdf

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