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08/02/2012

Allocate Software CEO says he feels "comfortable" with broker targets for FY profit

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Additional Information
Market: AIM
Sector: Software & Computer Services
EPIC: ALL
Latest Price: 76.00p  (-0.65% Descending)
52-week High: 84.00p
52-week Low: 64.00p
Market Cap: 48.52M
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Allocate Software
www.allocate-software.co.uk

Allocate Software plc is the leading workforce optimisation software applications provider for world-wide organisations with large, multi-skilled workforces. Using MAPS, Allocate Software’s workforce optimisation software application, organisations can deploy the right people with the right skills, to the right place at the right time, allowing Allocate Software’s customers to match operational demands with workforce supply.  

With Corporate headquarters in London, regional offices in the UK, Sweden, USA, Australia, Malaysia, Allocate Software provide services and support to an international customer base across Europe, North America and Asia Pacific.  

Allocate Software plc is quoted on the London Stock Exchange (AIM: ALL). For further information please visit www.allocatesoftware.com.

Full Allocate Software profile here
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Allocate Software: A healthy cash generator - Edison

20th Sep 2011, 2:59 pm by Giles Gwinnett Allocate now has a strong four-year track record of sales and earning expansion, said Edison analyst Dan Ridsdale in a note

Workforce optimisation specialist Allocate Software (LON:ALL) is a "healthy cash generator" which delivered full year results ahead of Edison's expectations, the research house said today.

The firm recently revealed increased revenues and operating profits (at the EBITDA level) during the year to May 31, despite tough conditions in its key healthcare markets.

Revenue increased 37 per cent to £30.1 million, while EBITDA (earnings before interest, tax, depreciation and amortisation) grew 57 per cent to £5.8 million.

Allocate now has a strong four-year track record of sales and earning expansion, said Edison analyst Dan Ridsdale in a note.

He added that its prospects for growth continued to look good - through both international expansion and deeper penetration of the NHS.

Cash conversion is excellent and visibility is improving as recurring revenues grow, he added. He pointed out that the firm's current rating appeared "scant reward" for all these attributes.

The firm's shares are currently trading at 77 pence but Edison said that considering the company’s considerable scope for expansion, strong track record of growth and excellent cash conversion, it felt a share price north of 90p was "perfectly justifiable".

Ridsdale said the growth prospects remained solid for this year, and within the NHS he expected the firm to continue to add new trusts while "contract extension rates should continue to grow".

"The acquisition of Zircadian should enhance prospects in doctor rostering, while Allocate’s sales leverage is now translating into better sales performance from Dynamic Change.

"The acquisition of RosterOn should shore-up expansion plans in Australia and an active pipeline in the US is also being reported," he added.

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