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AIT Group increases turnover and moves into profit

24 November 2003  |  3596 views  |  0 AIT Group increases turnover and moves into profit

UK CRM software provider AIT Group is reporting a 19% increase in turnover for the six months ending 30 September 2003 and a pre-tax profit of £1m compared to losses of £37.8m for the same period last year.

Fully diluted earnings per share were 3.59 pence for the period, compared to loss per share of 1,556.5 pence in the year ago period.

AIT says the increase in turnover is due to substantial growth in licence sales and related maintenance revenues which increased 39% to £5.3m from £3.8m in the comparable period last year. Services revenue was £4.7m for the period, slightly up on last year's £4.6m.

Operating costs (excluding exceptional items) have been reduced from £22.8m in the corresponding period last year to £9.5m in the six months ended 30 September 2003.

AIT says the group is recovering from the difficulties it encountered last year.
Nick Randall, chairman, says: "Whilst the general market for software sales remains challenging, we believe that the customer interaction management market will expand and that we are well positioned to exploit this opportunity."

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