Allocate Software Reports Record Results for the Year Ended 31 May 2009
3 August 2009
Allocate Software plc (AIM: ALL), the leading provider of workforce optimisation solutions, today announces its results for the year ended 31 May 2009.
Financial Highlights
- Revenue increased by 36% to £15.8m (2008: £11.6m)
o Licence revenue increased by 32% to £7.6m (2008: £5.8m)
o Services revenue increased by 37% to £8.0m (2008: £5.8m)
o Healthcare revenue increased by 69% to £11.1m (2007: £6.6m) - Trading profit* increased by 37% to £2.53m (2008: £1.85m)
- Trading profit* margin increased to 16.05% (2008: 15.98%)
- Diluted adjusted EPS** increased by 31% to 5.36p (2008: 4.1p)
- Cash balances at the year-end of £3.7m (after £2.1m cost of investment in Baum Hart & Partners)
* Trading profit defined as profit before amortisation of intangible assets, share-based payments, interest and tax
** Excludes amortisation of intangibles, share-based payments and deferred tax adjustment
Business Highlights
- Total Healthcare customer base has now reached over 180 NHS Trusts in the UK and four Private Healthcare Providers
- MAPS Healthroster gained 46 new NHS Trust customers, making 81 in total at the year-end (which represents 21% of the total number of Acute, Mental Health and Primary Care Trusts in England and Wales)
- Successful integrations of Key Information Technology Services ("KITS") and Baum Hart & Partners ("BHP")
- NATO extended its use of MAPS to provide access by all NATO Allies; it is now the defined standard for all national contributions for Force Generation across NATO
- MAPS Maritime selected by Maersk Oil Qatar for its shoreside and offshore operations
- Directors confident of another successful year
Post-period events
- Name changed to Allocate Software plc on 28 May 2009
- Geographic expansion continues with second sale of MAPS Healthroster into Malaysia
- Launched new Doctor Rostering module and the first sale of this module to an existing NHS Trust customer has already been made
- Two additional sales of MAPS Healthroster in the UK
- Launched Next Generation BSMS, temporary staffing solution to the market
Ian Bowles, Chief Executive Officer of Allocate Software, commented:
"FY09 was a significant year for Allocate Software, outperforming our original targets and achieving more consistent revenues. We continued to strengthen our position in the UK Healthcare market, winning considerable market share and securing our second private healthcare customer in Malaysia. In both Maritime and Defence we secured new orders, showing that even in difficult economic environments customers value the applications we deliver. We remain committed to improving the performance of all areas of the business as we focus on growth and delivering enhanced shareholder value."