Bond sees green shoots after troubled 2010

3rd Apr 2012 09:44

Bond International Software, the personnel software specialist, says improved cost controls and better market conditions boosted profits through 2011.Revenues came in 30% ahead of a difficult 2010 at £36.8m with operating margins increasing from 7.8% to 14.2% reflecting a better mix of licence and service income.Bond made a loss before tax of £1.43m, reflecting a charge on goodwill. The company benefits from UK tax credits on research, and adjusted profits after tax came in at £1.95m, a significant rise on the £0.1m figure reported in 2010.The loss per share was 3.08p while net debt was reduced by £1.5m.The proposed dividend has been increased 50% to 1.2p.Commenting on the results Chief Executive Steve Russell, said: "2011 has been a year of operational progress for Bond as we continue our recovery from the difficult environment of 2009 and 2010.2012 has begun positively and we are confident that the Asia Pacific market will provide significant opportunities going forward."Shares in Bond had risen 11.6% by 09:37BS