Sopheon climbs on strong close to year

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Sopheon climbs on strong close to year
Master Investor Magazine

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AIM-listed enterprise software developer Sopheon (LON:SPE) saw its share price rise by 14.86% to 804p (as of 13:20 GMT) as it said that the final quarter of 2019 was one of the best on record. Management said that profits for the year were in line with expectations and the business remained strongly cash generative despite a drop in annual revenues.

Recurring revenues continue to grow both in total and as a percentage of total revenues and the company enters 2020 with around 50% of its 2019 revenue level already contracted.

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