Netcall revenue and profit jumps

21st Mar 2011 16:56

AIM-quoted Netcall increased its revenues by 245% in the six months to December 2010 helped by the contribution from last July's acquisition Telephonetics. The telecoms call-back and speech recognition software provider increased its revenue from £1.86m to £6.41m, and £4.57m of that is recurring in nature - £10m on an annualised basis. Telephonetics' SaaS-based MovieLine service generated £970,000 in revenues but this is a declining part of the business. The first phase of the integration of Telephonetics has been completed and net annualised cost savings of £1.5m have been made. Reported pre-tax profit was down, but stripping out amortisation and exceptionals it rose from £359,000 to £1.09m. Tax losses are being used up. Net cash was £4.8m at the end of 2010 and cash generation is normally better in the second half. Netcall is still winning contracts from the public sector, which wants to reduce costs. Netcall's automated system reminding patients of appointments has reduced the number of patients not attending appointments and helped Chelsea and Westminster Hospital to save nearly £1m in a year.