Advanced Computer Software (LON:ASW) (ASW 35.5p / £125.98m)
The Company, a leading provider of software and IT services to the UK health, care and business sectors, this week announced its results for the year ended 28 February 2011. The results report on the Company’s second year of trading following the £99m acquisition of COA Solutions in February 2010. Revenue was up 216 per cent. to £95.4m and adjusted pre-tax profit (before one off restructuring costs, share based payment and amortisation of acquired intangible assets) up 209 per cent. to £21m. The Company also reported positive revenue visibility with approximately 57 per cent. of revenues from recurring maintenance, hosting and managed service contracts and a further 35 per cent. in repeatable business from an installed base of approximately 7,000 customers.
Originally established to consolidate the fragmented primary care software market, the Company now comprises three divisions addressing the needs of both public and private sector organisations. The Health and Care division sells a range of products to the NHS and private sector including patient workflow and case management applications. The Business Solutions division (of which COA Solutions is part) provides accounting, payroll, HR and document management systems to public sector organisations and the private sector. The third division, 365 Managed Services provides services in support of the Company’s products to a wide range of customers. The chief executive commented that the Company: “continues to perform well in a difficult economic climate with turnover underpinned by strong recurring revenues and all divisions reporting high levels of activity. We are confident about our prospects for the current financial year given that future contracted revenues at the yearend were £78m”.
Advanced Medical Solutions (LON:AMS) (AMS 79.25p / £122.63m)
The global technology company this week provided a trading update in conjunction with its annual general meeting. The Company reported that whilst economic conditions continue to be challenging, the Company is trading in line with current market expectations for the full year 2011 and it remains confident about the long term prospects for the Company. Feedback from the US market on LiquiBand, its key wound closure product continues to be very positive with end user sales showing strong growth quarter-on-quarter.
Amur Minerals (LON:AMC) Corporation (AMC 16.12p / £44.81m)*
Amur yesterday announced today…
