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.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
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
Sign up to Money Morning
Our team, led by award winning editors, is dedicated to delivering you the top news, analysis, and guides to help you manage your money, grow your investments and build wealth.
-
Digital assets ‘at risk of being lost’ due to lack of planning for death, Which? poll finds
News The consumer watchdog has issued a warning about digital assets after a survey found the majority of people have not drawn up instructions for how to access them after their death.
By Henry Sandercock Published
-
Apple loses court battle over €13bn tax bill - should you invest?
The case against Apple was brought by the European Commission and ends an eight-year dispute
By Chris Newlands Published