Access Intelligence, the compliance Software as a Service (SaaS) buy and build business led by former Sage Group chairman Michael Jackson, announced that the interim results to May 2011 showed sales of £4.0 million (2010: £4.1 million), adjusted operating profit of £293,000 (2010: £668,000), pre-tax profit of £21,000 (2010: £470,000), adjusted EPS of 0.076p (2010: 0.12p) and a special dividend of 0.1p.
Subject to shareholder approval at the General Meeting in April 2012, it is the board's intention to begin paying an annual dividend at a similar level to the special dividend. The results include an exceptional charge of £202,000 (2010: £nil).
The company reported that Cobent made an adjusted loss of £230,000 (2010: £58,000 loss) - a new CEO to replace the founder/CEO was recruited in May 2011; recurring income represented 65% of total sales (2010: 57%).
The ACC share price has decreased by 24% over the last year.
Access Intelligence Plc is currently graded b by LCF Research. To learn more, follow the link.
