World Careers Network reports big revenue rise
Recruitment software provider World Careers Networks (WCN) says a rise in licence fee and 'implementation' income boosted revenues and profits in the six months to the end of January.
Recruitment software provider World Careers Networks (WCN) says a rise in licence fee and 'implementation' income boosted revenues and profits in the six months to the end of January.
Turnover increased by 30% to £3.51m compared to £2.69m in the first half of 2011. At the same time overheads rose by £440,000 resulting in profits before tax of just under £1.1m, an increase of 53% on the £0.71m reported for the first half of last year.
The firm says it expects full year revenues to exceed the prior year, although the growing headcount and investment, particularly in security, will see costs rise.
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
WCN also says that the size of the projects it is now dealing with will make profits more "erratic".
Those caveats have not stopped the stock rising 9.4% in morning trading. WCN has doubled in value over the last 12 months.
BS
Get the latest financial news, insights and expert analysis from our award-winning MoneyWeek team, to help you understand what really matters when it comes to your finances.
MoneyWeek is written by a team of experienced and award-winning journalists, plus expert columnists. As well as daily digital news and features, MoneyWeek also publishes a weekly magazine, covering investing and personal finance. From share tips, pensions, gold to practical investment tips - we provide a round-up to help you make money and keep it.
-
Family investment companies explained: how the ultra wealthy shield their money from the taxmanWealthy families are increasingly turning to family investment companies to keep more of their money away from HMRC – but what are these arrangements and how do they work?
-
How to boost your pension pot as 35% of UK over 50s face huge retirement savings gapOver 50s are facing a later life with little to no funds - but there are steps you can take now to boost your pot.
