Microgen reports H1 results
Microgen reports results for the six months ended 30 June 2007 slightly ahead of the Board's declared operating margin target with good organic growth in key sectors.
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Highlights
- Profit before tax (excluding exceptional profit on property disposal) of £3.1 million (H1, 2006 : £2.9 million).
- Operating margin before intangible amortisation and exceptional items remains very strong at 17.2% (H1, 2006 : 15.1%), ahead of the Board's declared target.
- Adjusted basic eps (excluding intangible amortisation and exceptional items) of 2.3p (H1, 2006 : 2.1p). Basic eps of 2.4p (H1, 2006 : 2.0p).
- Good organic growth in key software businesses. Significant new customer wins for Microgen Aptitude in financial services and commercial sectors.
- Positive operating cash flow of £2.4 million (H1, 2006 : £1.8 million) producing cash of £11.0 million and net funds of £6.5 million as at 30 June 2007, after £5.7 million investment in shares of Trace Group plc.
- Acquisition of the Oscar software from Cronus Consultancy Limited completed in July 2007.
- Increase in interim dividend to 0.6 pence per share (2006 : 0.5 pence per share) reflecting the confidence of the Board in the prospects of the Group.
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