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Sopheon pre-tax profit up

By BFN News | 07:26 AM | Thursday 24 August, 2017

Sopheon reported adjusted pre-tax profit of $1.8m (2016: $1.4m) in the half year to 30 June 2017. Revenue was $12.5m, up from $11.5m in 2016 and adjusted EBITDA increased to $3m from $2.7m last year. HIGHLIGHTS: - Continued growth in revenue and profitability as the business delivers on its strategy. 28 license transactions were closed in the period vs 20 for the same period last year - Revenue visibility for full-year 2017 now at $20.3m, compared to $18.4m at this time last year - Market activity with and inquiries from leading industry voices Gartner and Forrester have increased materially year on year - Sopheon investment in extending the use of Accolade to enterprise-wide digital automation gains momentum. Two product releases since the start of the year, including a market first with landmark knowledge discovery and insights features are expected to contribute to growth Sopheon Chairman Barry Mence said: "In addition to increasing both revenue and profits, we continue to build momentum and gain enhanced market recognition... full year revenue visibility for 2017 from contracted business and recurring revenue streams is already at $20.3m. "In addition we have a growing sales pipeline, including several blue chip companies representing major enterprise opportunities. "These factors give the Board confidence in meeting our goals for the year, and as importantly, our ambition to accelerate growth in the future. "Given these positive circumstances, the Board is actively considering the introduction of a dividend policy." Story provided by

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