Recovery gaining momentum at Access Intelligence

24th Jun 2009 13:47

The restructuring of Access Intelligenceooks to be paying off after the company moved into the black at the interim stage.The company made a profit before tax of £0.2m in the six months to 31 May 2009, compared to a loss of £1.2m a year earlier. Revenue rose to £2.67m from £1.9m the year before, helped by a £0.63m contribution from recently acquired Solcara.The group said that all subsidiaries were making monthly profits by the end of the reporting period, with group performance in the second quarter way ahead of the first quarter showing. The board has abandoned plans to sell its Willow Starcom and Wired-Gov subsidiaries, and remains on the look-out for acquisition opportunities in the fields of compliance, procurement & contract management, and media relations & PR. Executive chairman Michael Jackson said that while its support services business Willow Starcom does not fit in with the company's focus on the "software as a service" model it is "demonstrating considerable underlying growth, and it adds to our critical mass and has strong recurring revenues and cash flows."