Staffware releases preliminary results

Business process management supplier Staffware has announced its preliminary results for the 12 months ending 31 December 2003.

Business process management supplier Staffware has announced its preliminary results for the 12 months ending 31 December 2003.

Staffware has increased its dividend significantly , with a total increase of 40% against 2002 figures.
 
The company also announced an increase in sales revenue, with an overall annual revenue increase of 9% to £42.7m. Total licence revenue was £21.9m, 51% of total revenue.

The company reported that profit after tax increased by 38% to £2.2m against £1.6m in 2002. Total profit before tax increased by 35% to £3.5m.

Cash resources increased by 15% and R&D by 6%, with a £7.5m investment, a total of 18% of sales revenue.

Business development highlights include nine £500,000 contracts compared with seven in 2002. These include contracts with companies in the UK, Holland, Poland, South Africa and the US.

Written by Computing SA staff

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