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
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."
Nationwide: UK house prices creep up by 0.2% - are we heading for a rebound?
Nationwide’s latest house price index shows property prices inched up by 0.2% as demand warms up - will this trend go into 2024?
By Kalpana Fitzpatrick Published
December 2023 NS&I Premium Bond winners revealed - have you won the jackpot?
Two Premium Bond holders are now millionaires as NS&I reveals December winners. Find out if you’re one of them
By Vaishali Varu Published