Media releases are provided as is by companies and have not been edited or checked for accuracy. Any queries should be directed to the company itself.

Staffware plc trading statement; Best ever half year revenues

  • 09 July, 2003 15:01

<p>Staffware (“The Company”), a leader in Business Process Management (BPM) software, today announces an update on its trading performance in respect of the second quarter and first half of 2003.</p>
<p>- The Company is expected to achieve a significant improvement in EBITDA:
- approximately £1.6 million for Q2 (Q2 2002: £1.4 million), an increase of approximately 12%
- approximately £2.0 million for the H1 (H1 2002: £1.1 million), an increase of approximately 76%</p>
<p>- Sales revenues for Q2 have increased by 18% to approximately £12 million (Q2 2002: £10.1 million). Q2 sales have increased by 32% over the previous quarter.</p>
<p>- Sales revenues for H1 have increased by 15% to approximately £21 million, a record for any half year (H1 2002: £18.2 million).</p>
<p>- Licence sales for Q2 increased by 21% to approximately £7.0 million, representing 59% of total sales revenues (Q2 2002: £5.8 million, representing 57% of total sales revenues).</p>
<p>- Licence sales for H1 have increased by 17% to approximately £11.6 million, representing 55% of total sales revenues (H1 2002: £9.9 million, representing 54% of total sales revenues).</p>
<p>- In Q2 sales of our BPM software, the iProcess Engine, increased by 122% to approximately £6.0 million or 50% of total sales revenues (Q2 2002: £2.7 million or 26% of total sales revenues). We have sold approximately £21.0 million since its launch in Q4 2001.</p>
<p>- Cash balances were approximately £21 million at the end of June 2003, with no material debt (30 June 2002: £20.2 million).</p>
<p>- Recurring support revenues on an annualised basis, have increased by 19.7% to approximately £13.4 million since the beginning of the financial year (2002: £11.2 million).</p>
<p>- 10 notable contracts of over £250,000 were signed in Q2 (Q2 2002: 6) including:
- Netherlands: ABN Amro; KPN; Nuon
- UK: A major bank*
- USA: ADP Financial Services Inc (approximately £700,000 expected to be delivered and recognised in H2) and a major bank*
- South Africa: Mutual &amp; Federal
- Spain: Gobierno de Canarias
- India: A major organisation*
- Australia: Aon Consulting</p>
<p>John O'Connell, Chairman and CEO of Staffware plc, commented:</p>
<p>“These excellent results build on last year’s record performance and we are delighted to announce that our growth rate has accelerated compared to the first quarter of the year. The increase in licence sales is especially noteworthy in a market which is still cautious about making any significant commitments to Enterprise Software. During the second quarter we received 10 orders in excess of £250,000, including the largest single contract in the company’s history from a major UK bank, together with an important win in the USA from ADP Financial Services.</p>
<p>“The combination of our top line sales growth, the successful launch of Version 2 of our BPM software in April this year and our prominence in recent IT industry surveys, most notably the Gartner ‘Magic Quadrant’ on pure play BPM vendors (Staffware identified as a leader along with only 3 other companies), positions us well to capitalise on commercial and government opportunities going forward. As demonstrated by these results, Staffware is consistently proving that its technology can achieve real benefits and efficiencies for its customers at a time when other Enterprise Software solutions are failing to deliver. Despite the generally cautious environment for most IT investments, we are confident that Staffware can continue to build on this success.”</p>
<p>Note: Figures reported are unaudited</p>
<p>* Contract prohibits publicity</p>
<p>Ends</p>
<p>For further information please see www.staffware.com, or call:</p>
<p>Charlotte Franklin, Eklektik Consulting
ph: (02) 9255 7966</p>
<p>Simon Mallender, Staffware
Ph: (02) 9458 2100</p>

Most Popular

Cool Tech

Breitling Superocean Heritage Chronographe 44

Learn more >

SanDisk MicroSDXC™ for Nintendo® Switch™

Learn more >

Toys for Boys

Family Friendly

Panasonic 4K UHD Blu-Ray Player and Full HD Recorder with Netflix - UBT1GL-K

Learn more >

Stocking Stuffer

Razer DeathAdder Expert Ergonomic Gaming Mouse

Learn more >

Christmas Gift Guide

Click for more ›

Most Popular Reviews

Join the newsletter!

Error: Please check your email address.

Latest Articles

Resources

PCW Evaluation Team

Walid Mikhael

Brother QL-820NWB Professional Label Printer

It’s easy to set up, it’s compact and quiet when printing and to top if off, the print quality is excellent. This is hands down the best printer I’ve used for printing labels.

Ben Ramsden

Sharp PN-40TC1 Huddle Board

Brainstorming, innovation, problem solving, and negotiation have all become much more productive and valuable if people can easily collaborate in real time with minimal friction.

Sarah Ieroianni

Brother QL-820NWB Professional Label Printer

The print quality also does not disappoint, it’s clear, bold, doesn’t smudge and the text is perfectly sized.

Ratchada Dunn

Sharp PN-40TC1 Huddle Board

The Huddle Board’s built in program; Sharp Touch Viewing software allows us to easily manipulate and edit our documents (jpegs and PDFs) all at the same time on the dashboard.

George Khoury

Sharp PN-40TC1 Huddle Board

The biggest perks for me would be that it comes with easy to use and comprehensive programs that make the collaboration process a whole lot more intuitive and organic

David Coyle

Brother PocketJet PJ-773 A4 Portable Thermal Printer

I rate the printer as a 5 out of 5 stars as it has been able to fit seamlessly into my busy and mobile lifestyle.

Featured Content

Product Launch Showcase

Latest Jobs

Don’t have an account? Sign up here

Don't have an account? Sign up now

Forgot password?