eg solutions plc (‘eg‘ or ‘the Company’; LSE-AIM: EGS), the back office optimisation software company, announces its unaudited half year results for the six months ended 31 July 2010.
Financial highlights
| Figures in £000s |
Unaudited 6 months ended 31st July |
Growth |
|
|
2010 |
2009 |
|
|
| Revenue |
2,411 |
2,090 |
+ 15.4% |
| Gross margin (%) |
63.7 |
63.1 |
|
| Profit before tax before exceptional items* |
145 |
56 |
+ 158.9% |
| Earnings per share (pence) -
- basic - diluted |
0.5 0.4 |
0.4 0.3 |
+25.0% +33.3% |
| Operational cash flow |
707 |
477 |
+48.2% |
* Exceptional items: £67,000 professional services costs relating to the acquisition of XTAQ (2009: nil)
Key points
- Strong interim results achieved despite continued challenging business environment
- 15% revenue growth reflects solid performance across the Company
- 159% growth in profit before tax (before acquisition costs)
- Period-end cash (after funding acquisition) up 30% to £773,000 with 48% increase to £707,000 in operational cash flow for the period
- XTAQ acquired in March and successfully integrated; pipeline converting as expected
- Growing reputation for quality and excellence recognised with AccredIT UK award
- Won Birmingham Post Business award for Export & International Trade
On outlook, Rodney Baker-Bates, Non-executive Chairman, stated:
“eg has demonstrated through these results that it has established a strong platform for growth and that there is momentum building in its financial performance.
“During the second half we expect to maintain growth in revenue, profitability and cashflow and our ongoing focus on cost control will continue to benefit our financial performance.
“With approximately 78 per cent. of anticipated revenues for the full year under contract, we are confident of the outturn for the full year and that we will achieve market expectations.“
Contacts
| eg solutions plc |
01785-715772 |
| Elizabeth Gooch, Chief Executive Officer |
www.eguk.co.uk |
|
|
|
| Bankside |
020-7367-8888 |
| Simon Bloomfield or Rose Oddy |
|
| Arbuthnot Securities Limited |
020-7012-2000 |
| Tom Griffiths |
About eg solutions plc
eg solutions plc is a global back office optimisation software company. Our software provides historic, real-time and predictive Operational MI. When implemented with our training programme for managers and team leaders to use this intelligence, we guarantee improvements in operational results in short timescales.
The Company, which is listed on the Alternative Investment Market (‘AIM’) of the London Stock Exchange, is committed to customer satisfaction and the ongoing development of its operations management solutions.
Please click here to download the full results as a pdf document.