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Sopheon pre-tax profit up

By BFN News | 07:08 AM | Thursday 23 March, 2017

Sopheon revealed that profit before tax jumped to $2.7m, up from $1.2m in 2015 in the year to 31 December 2016. HIGHLIGHTS: Revenue: $23.2m (2015: $20.9m) EBITDA: $5.2m (2015: $4.1m) - Continued growth in revenue and profitability as the business delivers on its strategy. EBITDA and PBT stated above exclude $0.3m of foreign exchange gains - Forty-nine license transactions (42 in the prior year) of which 17 are new customers - Full year 2017 revenue visibility of $14.5m, compared to $12m the previous year - Market recognition continues from leading industry voices such as Gartner and CGT magazine as Sopheon looks to extend Accolade into new industries and broader enterprise application - New staff being recruited in early 2017 in key areas as we continue implementing our strategy Chairman Barry Mence said: "I am delighted to report a truly excellent set of results; the board looks forward to building on these results to deliver continued positive development in the strategic and financial performance of our company in 2017 and beyond. "Additional investments in new members of our team are another key piece of our strategy to move our business forward and capture the opportunity that we have long believed was coming. "Sopheon has a market-leading solution, global reach, solid financials, a clear corporate structure, an accelerating market, and most importantly great people - a real platform for growth." Story provided by

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