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

The top funds to invest in
Funds

The top funds to invest in

Investors continue to favour passive funds in April though figures reveal an actively managed money market fund also caught their eye. We look at wher…
3 May 2023
The ten highest dividend yields in the FTSE 100
Income investing

The ten highest dividend yields in the FTSE 100

Rupert Hargreaves takes a look at the companies with the highest dividend yields in the UK’s blue-chip index
20 Apr 2023
Best junior stocks and shares ISA platforms
Isas

Best junior stocks and shares ISA platforms

A junior stocks and shares ISA is a great way to save for your child tax-efficiently. But it can be confusing deciding which investment platform to ch…
28 Mar 2023
The outlook for Shell shares is mixed, despite bumper profits
Energy stocks

The outlook for Shell shares is mixed, despite bumper profits

With profits surging, it looks as if Shell is on a roll, but the company’s growth from here is hard to see as Rupert Hargreaves explains.
6 Feb 2023

Most Popular

Best savings accounts – May 2023
Savings

Best savings accounts – May 2023

Interest rates have been creeping up - we look at the best savings accounts on the market right now.
31 May 2023
Nationwide to give £100 cash boost to customers
Personal finance

Nationwide to give £100 cash boost to customers

Nationwide Building Society is giving customers £100 as it reinvests profits. Dubbed the Nationwide Fairer Share scheme, we look at who is eligible.
22 May 2023
One day left for households to claim the £200 Alternative Fuels Payment to help with heating bills
Energy

One day left for households to claim the £200 Alternative Fuels Payment to help with heating bills

Households could be due a £200 payment if they heat their homes using alternative fuel sources and aren’t connected to the mains gas grid - but time i…
30 May 2023