Sopheon’s results trigger sell-off

AIM-listed enterprise software provider Sopheon (LON:SPE) has seen its share price drop by 13.56% to 991.88p (as of 14:00 GMT) despite publishing broadly positive results for the year ended 31st December. Revenues growth slowed to 18.9% and the rate of pre-tax profit growth also declined to 25.4%.

Chairman Barry Mence commented: “As we reflect on a third and unprecedented year of success for Sopheon, we are more determined than ever to make sure that Sopheon strengthens its leadership position in our rapidly evolving market. We have ambitious investment plans for 2018 involving product, people and process. Where appropriate, this will also include consideration of targeted M&A opportunities when consistent with our goals and criteria. Alongside strategic initiatives, we remain highly driven by revenue and profit objectives. To emphasize this, the board has decided to propose a maiden dividend and will put this to members at the next annual general meeting to be held in June this year“.