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Sopheon revenue up 23%

By BFN News | 07:27 AM | Thursday 22 March, 2018


Sopheon, a provider of software and services, grew its revenue by 22.8% to $28.5m in 2017. Profit before tax rose from $3m to $5.1m and EBITDA from $5.6m to $8.0m. It completed 59 license transactions, up from 49 in the prior year, of which 13 were new customers. Full year 2018 revenue visibility is $19.3m, compared to $14.5m the previous year. The group has proposed a maiden dividend of 2.5p per share. Barry Mence, chairman, said: "As we reflect on a third and unprecedented year of success for Sopheon, we are more determined than ever to make sure that Sopheon strengthens its leadership position in our rapidly evolving market. We have ambitious investment plans for 2018 involving product, people and process. Where appropriate, this will also include consideration of targeted M&A opportunities when consistent with our goals and criteria. Alongside strategic initiatives, we remain highly driven by revenue and profit objectives. To emphasize this, the board has decided to propose a maiden dividend and will put this to members at the next annual general meeting to be held in June this year." Story provided by StockMarketWire.com

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