Publishing Technology says 2012 results in line with expectations

Publishing Technology's annual results were line with expectations following the successful development of new products, the company said in a trading update Monday.

Publishing Technology's annual results were line with expectations following the successful development of new products, the company said in a trading update Monday.

The AIM-listed information technology company said during the year ended December 31st, 2012, it had strengthened the position of its products including its Advance suite software for the publishing market, the Ingentaconnect scholarly portal, the Pub2web digital content hosting platform and the Publishers Communication Group (PCG) sales and marketing consultancy.

Research and development of Advance and Pub2web products are almost finished and are due for completion this year. The company said it started making significant sales from the products.

Development costs of £3.0m per annum were written off, leaving no capitalised expenditure to affect future profits.

The joint venture in China failed to produce profits during the period, but the firm said its agreement with the largest import and export organisation, CNPIEC, has been "ground breaking".

George Lossius, Chief Executive Officer at Publishing Technology, said: "Sales of our new generation products continue to grow apace, with a steady stream of new business implementations adding to our incremental recurring revenue base.

"After many years of investment, the increasing confidence of the market in our products underlines our confidence that we have the right strategy. At the same time, the decline in our mature products and services has been slower than we had anticipated which has allowed our profits to hold up during these years of investment."

The company's outlook for 2013 is growth in revenues from new products and services, a small decline in mature product revenue and further strides toward profitability in China.

Shares fell 4.86% at 176.00p at 8:30 Monday.

RD

Recommended

Broker safety – your questions answered
Investment strategy

Broker safety – your questions answered

Cris Sholto Heaton answers more of your questions about the safety of stockbroker accounts
25 Mar 2020
How demographics affects stock valuations
Investment strategy

How demographics affects stock valuations

New research suggests that stock and bond valuations are driven by the age of the population – at least in the US.
24 Feb 2020
Do you own shares in Sirius Minerals? Here’s what you need to do now
Stocks and shares

Do you own shares in Sirius Minerals? Here’s what you need to do now

Mining giant Anglo American has proposed a cash takeover of Yorkshire-based minnow Sirius Minerals. Unhappy shareholders must decide whether to accept…
20 Feb 2020
Why investors should be “cautiously bullish” for 2020
Stockmarkets

Why investors should be “cautiously bullish” for 2020

Analysts have been out in force making rosy predictions for stockmarkets in 2020, but while there is certainly a case for optimism, investors should r…
17 Jan 2020

Most Popular

Investors are shunning UK stocks – but they might regret that in a year’s time
UK stockmarkets

Investors are shunning UK stocks – but they might regret that in a year’s time

There are a number of reasons why investors aren't buying UK stocks, says John Stepek. But they may want to rethink that strategy.
29 Sep 2020
Are we really in a stockmarket bubble?
US stockmarkets

Are we really in a stockmarket bubble?

The rise of “cash shell” companies, sky-high valuations – everything seems to point to a stockmarket bubble. But all may not quite be as it appears, s…
28 Sep 2020
Two commodities that could lie at the heart of the next resources bubble
Energy

Two commodities that could lie at the heart of the next resources bubble

Commodities tend to move in cycles. And if you can identify early on which ones are about to surge in demand, you can profit handsomely. Dominic Frisb…
30 Sep 2020