House broker Arbuthnot has increased its 2009 profit forecast for SmartFOCUS.
This is the second upgrade this year and follows the recent AGM statement. Marketing and consumer relationship software provider smartFOCUS said that its first half figures will be ahead of expectations.
The company has reduced its annual overheads by £1.5m and this will also benefit the 2009 figures.
The 2009 profit forecast has been increased from £200,000 to £300,000. This still leaves scope for further upgrades if additional new business is won.
At 7.125p a share, smartFOCUS is valued at £6.68m. The prospective 2009 multiple is 18, which would fall to 10 in 2010 if forecast profits of £600,000 were achieved.
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