17th Mar 2016 08:48
LONDON (Alliance News) - Sopheon PLC on Thursday said it swung to profit in 2015 and is confident on its outlook for 2016, sending its shares higher in early trade.
The enterprise software provider said it made a pretax profit of USD1.2 million in the year to the end of December, compared to a USD1.5 million loss a year earlier.
Revenue increased to USD20.9 million from USD18.3 million, and Sopheon said it has started 2016 with a revenue pipeline of USD12.0 million compared to USD10.2 million the previous year. The company said it has been boosted by the release of new software platforms and investments made in enhancing its ability to deliver its software services in previous years.
Sopheon said it has also added new staff for the coming year and is confident the momentum it saw in 2015 will continue.
"The board remains confident that Sopheon is on the right path, with strong momentum and pipeline for further advancement in 2016. We continue to expand resources in line with the growth areas of the business to support this strong momentum, and maintain our leading market position," said Chairman Barry Mence.
Sopheon shares were up 24% to 89.00 pence early Thursday, one of the best performers in the AIM All-Share.
By Sam Unsted; [email protected]; @SamUAtAlliance
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