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  • BY: Andrew Hore |
  • POSTED: 29/03/2009 |

OneClickHR reported better than expected profits for 2008.

The company moved from a loss of 46,000 to a profit of 304,000. Revenues fell from 6.34m to 5.85m.

OneClickHR develops human resources software, which is available online and offline. The size of customer accounts varies. Hilton Hotels is generating revenues of around 200,000 a year while other smaller customers are paying hundreds of pounds a year. OneClickHR hopes to migrate more of its older customers to new versions of its .NET product.

Chief executive Frank Beechinor-Collins says that sales cycles have not changed. They remain around three months.

The business is cash generative and cash doubled to 861,000. The company has gross tax losses of more than 8m.

Shares in OneClickHR rose by 0.625p to 5.25p each, which values the company at 7.81m.

House broker KBC Peel Hunt forecasts 2009 profits of 400,000. 

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