24th Jul 2019 10:37
(Alliance News) - Financial software services firm Aptitude Software Group PLC said Wednesday interim profit and revenue both grew amid "excellent" progress at the firm.
Shares in Aptitude were 4.6% higher at 483.00 pence in London on Wednesday.
For the six months ended June, pretax profit widened 42% to GBP4.4 million from GBP3.1 million the year prior. This was after revenue rose 13% to GBP28.8 million from GBP25.4 million the year before.
"Aptitude Software has made excellent progress in the first half of 2019, both corporately and operationally," Aptitude Chair Ivan Martin said.
"The completion of the disposal of Microgen Financial Systems is a significant milestone in the development of the group," Martin added. "Aptitude Software is now solely focused on the specialised provision of powerful financial management software to large global businesses."
In May, Aptitude announced it would sell Microgen for GBP51 million. Following the sale, Aptitude has retained its payout ratio resulting in an 18% cut to the interim dividend to 1.8 pence per share from 2.2p the year prior.
"The group performed very well in the first half of the year with strong new business wins and an increasing base of recurring revenue contributing to the group's strongest first half performance in its history," Martin continued. "With a growing portfolio of product and service offerings, increasing worldwide presence and well-established partner network the business enters the second half of 2019 and future years with confidence."