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Sopheon lifts profit guidance on strong second half

Revenues for the year to December will be “comfortably in line with current market expectations."

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Earnings and pre-tax profits will be ahead of market hopes, the firm said

--- ADDS BROKER COMMENT AND UPDATES SHARE PRICE ---

Investors cheered the news from software company Sopheon (LON:SPE) as it issued a profit upgrade for the year.

The company, which provides company performance and planning data, said the second half of the year had exceeded expectations, meaning earnings [EBITDA] and pre-tax profit would be ahead of previous hopes.

Revenues for the year to December will be “comfortably in line with current market expectations,” the company added.

Shares in the firm, which have more than doubled in the last year, were another 13.5% higher on Thursday to 71p.

Broker finnCap said the news was “clearly very positive,” as it placed its forecasts under review “in anticipation of greater detail of the drivers for growth and implications for 2016, expected at prelims on 17 March.”

The company also reported the death of non-executive director Dr Bernard Al who served on the Sopheon board from 2001.

Quick facts: Sopheon

Price: 870 GBX

AIM:SPE
Market: AIM
Market Cap: £88.76 m
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