eg solutions’ “transformational year” sees it return to profit

STAFFORDSHIRE software plc eg solutions has recorded an impressive set of results, returning to profit and seeing revenue surge.

In its preliminary results for the year ended January 31, the Dunston firm – which specialises in back office workforce optimisation software – revealed revenue was up 69% to £7.54m (restated 2014: £4.46m).

And profit before tax was £407,000 compared to a loss of £1.48m last year.

Net cash is stated as £4.4m compared to a debt of £312,000 in 2014.

The firm says it has a contracted order book for the next two years of £7.64m up 27% on 2014’s £6.04m.

Its contracted order book over the next four years is £15.44m, up £1.80m since December 2014.

During the period in question a placing raised £3.19m (before expenses) which the firm says will support growth.

eg’s prospects were improved during the period by ten significant contract wins, including first wins in telecoms and local government.

It also strengthened its board and management team.
 
Chairman Duncan McIntyre said:  “FY2015 was a transformational year for the group with record revenues and a significant return to profitability. 
 
“Building on the steps we have taken to build a robust platform for growth during the past year, the board is confident that the group is well positioned to continue momentum into the coming year.”