Sopheon Pays Maiden Dividend As Revenue And Profit Grows In 2017

22nd Mar 2018 12:59

LONDON (Alliance News) - Sopheon PLC on Thursday reported rise in revenue and profit for 2017 and said it will pay maiden dividend.

The software company reported a rise in revenue by 23% to USD28.5 million in 2017 from USD23.2 million the prior year, thanks to a strong license performance. The average revenue per license transaction increased to USD158,000 from USD138,000, helped by two "very substantial" orders signed in the final weeks of the year. Total license transactions including extension orders stood at 59 in 2017, up 37% compared to 49 the year before.

Sopheon pretax profit also grew to UDS5.1 million from USD3.0 million.

As a result the group proposed a maiden dividend of 2.5 pence per share.

Sopheon said it struck 59 licence deals in the year, 13 of which were new customers, compared to the 49 total licence deals struck in 2016.

The company said new clients orders delivered revenue, which was "higher than ever before", at USD6.9 million. The prior year the group posted new clients orders revenue of USD3.9 million.

Sopheon Chairman Barry Mence 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."

The stock was up 4.0% at 681.00p per share on Thursday.

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