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AIM-listed software developer Sopheon (LON:SPE) has seen its share price climb by 5.84% to 815p (as of 14:15 BST) despite revenues and EBITDA dropping for the six months ended 30th June. Management said that this was largely due to an unusually strong first-half weighting during 2018 and that they were expecting a return to the more traditional second-half weighting this year with a record number of deals.
Chairman Barry Mence commented: “The future prospects of the business have never been brighter, and we do not believe this first half pause in the impressive financial performance of the past several years has a bearing on Sopheon’s unique potential and growth opportunity. The business remains profitable and cash generative, and our balance sheet is stronger than ever. With unprecedented activity and higher value in our sales funnel, we continue to anticipate rising deal flow and traction through the balance of the year. We see the shift to SaaS as reflective of a change in procurement behavior, and not a change in commercial momentum, which is rising. The Board believes that this development will drive shareholder value and remains confident that Sopheon is well positioned to build on its leadership position in the new and exciting space of Strategy Execution management“.
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