Sinosoft revival continues

20th Apr 2010 15:41

Full year results from China based software developer Sinosoft Technology turned out better than the market expected, even after the company raised its revenue guidance for the year as recently as January.Revenue in 2009 rose 20% to $14.5m from $12.1m the year before while profit before tax jumped 16% to $4.4m from $3.8m in 2008. The full year dividend has been maintained at 0.31p."What started out as a difficult year, improved considerably in the second half," observed Mark Greaves, the recently appointed chairman of Sinosoft. "I am pleased to announce that the group's revenue and profit before tax have continued to grow. Our cash position remains strong and we are in a position to propose a meaningful dividend to shareholders," Greaves added.