Sopheon revenue visibility miles ahead of last year

Shares in Sopheon, an international provider of software and services, leapt 25 per cent on Monday after the firm said revenue visibility at the mid-year point was significantly higher than that of both six weeks and a year ago.

Visibility is currently over £9.6m, compared to £7.5m at June 13th this year and £7.8m late July last year.

"Looking forward to the second half of the year, our sales pipeline remains strong," the firm said.

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"However, we would note that as always in our industry, accurate prediction of the timing and value of sales events can be difficult.

"Reported first half revenue is expected to comfortably exceed revenues for the corresponding period last year. As we have previously announced, we have continued a controlled expansion of staff levels in sales and delivery."

This meant that costs were also higher than last year.

"Nevertheless, the reported earnings before interest, tax, depreciation and amortisation (EBITDA) result is expected to show significant improvement compared to the first half of 2011," the firm added.

The share price rose 25% to 5p by 09:46.

NR