Bond International Software, the personnel software specialist, says improved cost controls and better market conditions boosted profits through 2011.
Revenues came in 30% ahead of a difficult 2010 at £36.8m with operating margins increasing from 7.8% to 14.2% reflecting a better mix of licence and service income.
Bond made a loss before tax of £1.43m, reflecting a charge on goodwill. The company benefits from UK tax credits on research, and adjusted profits after tax came in at £1.95m, a significant rise on the £0.1m figure reported in 2010.
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
The loss per share was 3.08p while net debt was reduced by £1.5m.
The proposed dividend has been increased 50% to 1.2p.
Commenting on the results Chief Executive Steve Russell, said:
"2011 has been a year of operational progress for Bond as we continue our recovery from the difficult environment of 2009 and 2010.
2012 has begun positively and we are confident that the Asia Pacific market will provide significant opportunities going forward."
Shares in Bond had risen 11.6% by 09:37
BS
-
What happens if you can’t pay your tax bill, and what is "Time to Pay"?Millions are due to file their tax return this Friday as the self-assessment deadline closes. Though the nightmare is not over until you pay the taxman what you owe - or face a penalty. But what happens if you can't afford to pay HMRC your tax bill, and what is "Time to Pay"?
-
What does Rachel Reeves’s plan for growth mean for UK investors?Rachel Reeves says she is going “further and faster” to kickstart the UK economy, but investors are unlikely to be persuaded
