www.advancedcomputersoftware.com
Advanced Computer Software Plc comprises three main divisions: Business Solutions, Health & Care and Managed Services. Together, these divisions provide a range of software and IT services that enable public, private and third sector organisations to retain control, improve visibility and gain efficiencies through streamlined processes.
Advanced Computer Software Group: profit up 14 per cent
Advanced Computer Software Group (LON:ASW) announced robust half-year results this morning in which the firm reported a seven per-cent increase in revenue during the six months to August 31 and 14 per cent growth in adjusted pre-tax profit.
Group revenue was £47.3 million (H1 2011: £44.2 million) while adjusted pre-tax profit came in at £10.4 million (H1 2011: £9.1 million). Adjusted earnings per share were up nine per cent at 2.4 pence.
Advanced Computer Software, which supplies IT systems and software to key vertical markets including the health sector, put the performance down to strong organic growth across all of its divisions. The firm’s Health & Care division grew by five per cent, while the Business Solutions and Managed Services divisions saw growth of four per cent and nine per cent respectively.
“We have continued to grow revenue and profitability whilst also significantly reducing our net debt by over £30 million – from £41 million in February 2010 to approximately £10 million as of today’s date,” said Vin Murria, Advanced Computer Software’s chief executive officer. “We see good growth opportunities for our portfolio of products in both the public and private sectors as these organisations seek efficiency gains and cost reductions.”
Murria also said that an integrated approach to how the firm supplies its systems and software was responsible for it increased its order book from £78 million at the year-end stage to more than £100 million today, with the group having achieved more than £23 million of cross selling so far this financial year.
