Microgen interim profits rise, completes acquisition of Jobstream

16th Jul 2015 10:51

(ShareCast News) - Business software group Microgen posted an increase in first half profits, driven by a strong performance from its Aptitude Software businessThe said pre-tax profit in the six months to 30 June rose 23.3% year-on-year to £3.7m, as revenue grew 7% to £15.8m, boosted by a better-than-expected performance from its Aptitude Software business.The business recorded a 13% growth in revenue to £8.5m thanks to strong demand for services in North America and Europe, while the financial systems division performed in line with expectations, as sales edged 1.39% higher to £7.3m.In the wake of the results, the group said it will pay an interim dividend of 1.4 pence, up 27% year-on-year.Meanwhile, Microgen has completed the acquisition Jobstream Group Ltd for £3.5, funded through existing cash resources.Cambridge-based Jobstream, a provider of wealth management software for the offshore finance industry, reported revenue of £1.8m and adjusted operating profit of £0.2m in the year to 30 June 2014.The company's gross assets at the year-end were £1.4m, and Microgen expects the acquisition to be earnings enhancing in the financial year 2016.Microgen shares were up 3.10% to 112.89p at 10:20 on Thursday.