Sopheon shows strong growth during first half of 2018

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Sopheon shows strong growth during first half of 2018
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AIM-listed enterprise software provider Sopheon (LON:SPE) saw its shares climb by 8.40% to 1,019p after the firm’s revenues for the first half grew by 27.2% to $15.9 million. Profits before tax improved by 62% to $2.8 million.

Management said that the current outlook was positive, with visibility of revenues of $27.2 million for the 2018 full year and nine new customer wins during the year to date.

Chairman Barry Mence commented that: “Alongside ensuring strategic progress and position, we remain focused on our revenue and profit objectives. This is underlined by our record first half performance for revenue and profit, our record revenue visibility of $27.2m, our record cash balances, and our maiden dividend declaration. The final quarter has always had a strong weighting on the overall results for the year, and as we move through the summer our commercial teams remain highly active. Noting this, the Board in turn remains confident that the Group is trading comfortably in line with market expectations.

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