28th Sep 2015 08:58
LONDON (Alliance News) - Bond International Software PLC Monday said it expects to announce the conclusion of its strategic review in "the coming weeks" as it reported a rise in pretax profit for the first half of 2015.
Bond provides software for the recruitment and human resources sectors.
For the half year to end-June it reported a pretax profit of GBP863,000, up from GBP769,000 a year before, as revenue rose to GBP20.4 million from GBP18.4 million, although this was partly offset by an increase in administrative costs due to the company's acquisition of Eurowage in April of last year.
In its Recruitment software division revenue rose 2.2%, driven by a strong performance in Asia Pacific, and recurring revenue in the US, which offset a fall in non-recurring revenue in the UK. In its Outsources HR and Payroll Services revenue rose to GBP5.9 million from GBP4.9 million, mostly as a result of higher revenue in Eurowage.
In its HR and Payroll software division revenue fell 6.1%, due to lower revenue from its legacy products.
Bond announced a strategic review in March, evaluating a number of options including partnerships, acquisitions, the sale of the business or an extended bank facility to continue investment. It said it has made "good progress" in this review, and expected to make further announcements as to the conclusions it has reached in the coming weeks.
Shares in Bond International were down 2.8% at 121.50 pence Monday morning.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
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