Allocate Software posts adjusted earnings fall

Allocate Software, supplier of workforce management tools, on Tuesday reported a drop in earnings for the half-year.

Allocate Software, supplier of workforce management tools, on Tuesday reported a drop in earnings for the half-year.

The AIM listed company said adjusted earnings before interest, taxes, depreciation, and amortisation fell 62.5% to £0.6m in the six months to November 2012.

A diluted adjusted loss of 0.1p earnings per share (EPS) was posted, compared to a 1.8p EPS in the comparative period.

That despite a slight 0.62% increase in revenues to £16.1m, driven by strong trading of products and new subscriptions.

Operating cash flows were also up 0.5% to £0.9m with a gross cash balance of £6.1m, up from £4.0m in the previous year.

The firm's products including the HealthRoster roster system and the Allocate Clinical Staff Planning application helped drive revenues in the period along with business in Australia and Sweden.

"I am pleased with the overall performance in the first half, particularly after such a slow start in the first quarter," said Ian Bowles, Chief Executive Officer of Allocate.

"The principal drivers of our healthcare business are performing to expectation with the number of new HealthRoster customers remaining strong; the continuing 100% close rate on HealthRoster renewals; the rapid growth of the Cloud business and the continued adoption of Allocate RealTime Patient Flow application within the HealthRoster customer base."

RD

Recommended

Why it pays to face up to your investment mistakes
Investment strategy

Why it pays to face up to your investment mistakes

Buying stocks can be a complicated business. But selling stocks can be tricky, too – even if you sell for the right reasons. Max King explains how to …
17 Sep 2021
Share tips of the week – 17 September
Share tips

Share tips of the week – 17 September

MoneyWeek’s comprehensive guide to the best of this week’s share tips from the rest of the UK's financial pages.
17 Sep 2021
Royal Mail will deliver for investors – here's how to play it
Trading

Royal Mail will deliver for investors – here's how to play it

Royal Mail Group has found its feet in the past 18 months and looks cheap. Matthew Partridge looks at how to trade the shares.
14 Sep 2021
The times may be changing, but don’t change how you invest
Small cap stocks

The times may be changing, but don’t change how you invest

We are living in strange times. But the basics of investing remain the same: buy fairly-priced stocks that can provide an income. And there are few be…
13 Sep 2021

Most Popular

The times may be changing, but don’t change how you invest
Small cap stocks

The times may be changing, but don’t change how you invest

We are living in strange times. But the basics of investing remain the same: buy fairly-priced stocks that can provide an income. And there are few be…
13 Sep 2021
Two shipping funds to buy for steady income
Investment trusts

Two shipping funds to buy for steady income

Returns from owning ships are volatile, but these two investment trusts are trying to make the sector less risky.
7 Sep 2021
Should investors be worried about stagflation?
US Economy

Should investors be worried about stagflation?

The latest US employment data has raised the ugly spectre of “stagflation” – weak growth and high inflation. John Stepek looks at what’s going on and …
6 Sep 2021