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.
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
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
Sign up to Money Morning
Our team, led by award winning editors, is dedicated to delivering you the top news, analysis, and guides to help you manage your money, grow your investments and build wealth.
-
How ‘Bed & ISA’ could save you £15,000 over a decade
Moving your investments into a tax-free wrapper through ‘Bed & ISA’ transactions could save you thousands over the long run by cutting your tax bill
By Katie Williams Published
-
House prices hit record high, says Halifax
UK house prices rose 3.9% over the past year, with a typical property now costing £293,999. We look at which regions are seeing the strongest growth, and whether the rally in house prices will continue next year
By Ruth Emery Published