Allocate Software, a provider of workforce and compliance software, said
total revenue for the year was flat while EBITDA fell to £1.6m from £3.8m before.
The IT firm, which specialises in software that organises shifts in the healthcare sector, British Army, Nato and Australia's armed forces, said revenue in the period was £16m for the six months ended 30 November 2011 compared to £15.9m before.
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
Underlying organic revenue growth, excluding acquisitions in the current year and the major Australian Healthcare contract secured in the previous year, was 15%.
The group, which is a major supplier to the NHS, said recurring revenue increased by 42% to £7.5m and to 47% of total revenue. Licence revenue fell to £5.4m from £7.7m and Healthcare revenue slipped to £12.1m from £12.6m.
Chief executive officer Ian Bowles said he was pleased with the momentum and performance so far this year.
"Securing the multi-million pound, long term agreement with the Australian Defence Force in December is of significant importance to our full year revenues. This, combined with our confidence in the levels of business that we are seeing in our markets, enables us to look forward to a successful full year outcome," he said.
-
FTSE 100 hits record highs – why is it rising and will we see more gains?Advice UK equities have been described as unloved for a long time but as the FTSE 100 hits new highs, we explain if now is the time to buy British.
-
How to invest in copperIt may be time to invest in copper as the red metal appears poised for a big jump. Dominic Frisby looks at what should investors should buy
