News blog
Netcall
- BY: Andrew Hore |
- POSTED: 21/03/2010 |
Netcall had a tough first half but the second half should be better.
The telecoms call-back and auto-messaging software provider reported a decline in first half revenues from £2.01m to £1.86m. Underlying profits fell from £539,000 to £345,000 in the six months to December 2009.
Last October’s acquisition Q-Max contributed revenues of £300,000 and boosted recurring revenues. Total recurring revenues were £1.6m, which is more than operating costs. Cost savings have been better than expected and there is scope for cross-selling software to clients.
There is still £1.9m of cash in the bank after the £2.5m spent on Q-Max.
There were some delays in orders and they should come through in the second half. House broker Evolution forecasts a rise in full year profits from £980,000 to £1.06m in the year to June 2010.
Netcall is looking for more bolt-on acquisitions like Q-Max.
At 16p a share, Netcall is valued at £10.3m. The shares are trading on 10 times prospective 2009-10 earnings.
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