AIT bullish on interim results
05 December 2001 | 2501 views | 0
AIT, a UK-based supplier of customer relationship management software, has posted a solid set of interim results, showing revenues up 57% over the same period last year, and profits up 34% to £2.7 million.
AIT's results defy the current gloomy outlook for IT stocks, with license fees and maintenance revenues ahead 144% to £8.8 million (2000: £3.6 million), representing 39% of turnover (2000: 26%). Basic earnings per share increased 34% to 9.11p (2000: 6.81p).
AIT chairman and CEO Carl Rigby says the UK sales pipeline for its new Web-based product Portrait is strong. He also talks up the potential for growth in overseas markets, following the September acquisition of CRM vendor AMI. "Early indications show the IMA customer base to be receptive to Portrait, giving us confidence of delivering further growth," says Rigby.
In particular, it places AIT in the US, Europe and the Pacific Rim with customers paying recurring maintenance fees. While AIT will continue to focus primarily on the financial services marketplace, IMA provides the opportunity to address other sectors, such as telecoms and utilities, through its established international partner network. These partners include Avaya, Teledynamics, Mitsucon, Datapoint, Kawatetsu and Headstrong.
Nationwide Building Society is the latest UK company to sign up for Portrait, bringing the total number of contracts for the new product to four. The company has also clinched its first US licence agreement for Portrait, with a deal to implement an integrated contact centre and branch solution for a community bank.
In addition Rossbank, the provider of outsourced CRM based on AIT technology, has secured its first client: Spicer Haart, the largest independent estate agency in the UK.