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Patsystems Announces 2010 Half Year Results
July 27, 2010
DATE: Embargoed until 07.00 – 27 July 2010
CONTACTS:
David Webber, Chief Executive
Martin Thorneycroft, Finance Director
Patsystems Plc +44 (0) 20 7940 0490
Graham Herring / Josh Royston
Threadneedle Communications +44 (0) 20 7653 9844
Michael Meade (as Nominated Adviser)
David Poutney / Mark Lander (Corporate Broking)
Numis Securities +44 (0) 20 7260 1000
PATSYSTEMS PLC
RESULTS FOR THE SIX MONTHS AND THE PERIOD ENDED 30 JUNE 2010
Financial Highlights
• Turnover up 6% to £10.0m (H1 2009: £9.5m)
• Adjusted pre-tax profit* up 37% to £1.0m (H1 2009: £752k)
• Net cash inflow from operating activities for the period was £1.3m (2009: £2.2m). Cash balance at 30 June 2010 was £9.2m (£7.0m at 30 June 2009)
• Interim dividend increased by 38% to 0.2p per share (H1 2009: 0.145p), reflecting strong cash generation and confidence in future growth opportunities
* profit before tax after adjusting for share option costs, marking to market of derivatives used to hedge cash flows and amortisation of intangibles other than internally developed software
Operational Highlights
• Bursa Malaysia selects Patsystems to provide a new order management system to support regional growth plans
• Patsystems new global ASP solution, XConnect, gains immediate traction with Terra Futuros in Brazil, Unicom and Phoenix Securities in Japan and Okachi in Hong Kong adopting the hosting service
• The number of new business opportunities and the overall value of the sales pipeline is significantly ahead of the prior year
To download a full copy of Patsystems 2010 Half Year Results, please click here
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