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Sinosoft Technology
- BY: Andrew Hore |
- POSTED: 04/07/2009 |
Sinosoft Technology’s 2009 results will be even more skewed towards the second half than in the past.
The Chinese e-government software supplier says that contract delays and deferrals mean that interim revenues will be lower than the $5.3m reported in the first half of 2008. Expansion outside of Jiangsu province should help to boost the second half of 2009.
Sinosoft reported a pre-tax profit of $3.8m on sales of $12.1m in 2008. House broker Hanson Westhouse forecasts a small rise in 2009 profits to $4m and it believes that second half sales will be higher than in the second half of 2008.
At 5.875p a share, Sinosoft is valued at £9.73m. The shares are trading on four times prospective 2009 earnings. A dividend of 0.33p a share is forecast for 2009, providing a prospective yield of 5.6%.
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