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.

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.

MoneyWeek

Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE

Get 6 issues free

https://cdn.mos.cms.futurecdn.net/flexiimages/mw70aro6gl1676370748.jpg

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

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.

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.