Microgen reports H1 results

Source: Microgen

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.

  • 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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