4th Sep 2013 09:12
LONDON (Alliance News) - SQS Software Quality Systems AG pretax profits and revenues jumped Wednesday, bolstered by focus on larger contracts an higher offshore-to-onshore staff ratio.
For the half year ended June 30, SQS had a pretax profit of EUR4.1 million, up from EUR2.5 million in the year-earlier half. Revenues increased to EUR107.8 million from EUR102.8 billion. Although the company successfully increased revenues, profits and margins in Germany, the Netherlands, Austria and Ireland, its business fell in the Nordics and remained flat in the UK.
Measures have been taken to improve sales efficiency in the Nordics, the company said, but the benefit of these measures only will become visible in the next year's results.
The software testing firm said it is confident it will meet full-year market expectations and added that it recently achieved its 2014 target of 40% of revenues coming from managed services.
SQS shares were trading up 2.2% at 387.45 pence Wednesday morning.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
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