Accountancy software firm Pegasus Software is flying high after turning in operating profits of #464,000, compared with a #154,000 loss in 1994.
Pre-tax profits rose to #893,000 for the year ended December 31 1995, compared with #243,000 in 1994. Turn-over increased by 33 per cent to #6.4 million. Profits of #77,000 came from selling off its investment in Access Accounting.
According to Pegasus, a 63 per cent increase in sales of its modular package Opera helped turn the business around. Sales of integrated package Capital and complimentary products are expected to boost expansion this year. Its services business also grew and contributed 30 per cent to total revenues.
Paul Jephcott, Pegasus finance director, said: 'It has taken a long time to sort out our product range and make sure we have a good core business, but we are now in a position to expand through acquisition.' Pegasus has #4 million in cash on its balance sheet.
The directors propose a final dividend of 4p per share, which amounts to 6p for the year - an increase of 20 per cent which should be paid by June 7, following shareholders' approval.
The share price rose by 24p to #2.34 after the results were published.
Outsourcer says the size of the operation should be considered before criticising the error that affected 43,000 women
Vendor says a range of its products will be made SD-WAN compatible, with traditional networking 'completely under disruption'
With just a day to go until the 25th annual Channel Awards, we catch up with the SMB Reseller of the Year category sponsor Exertis, to find out why the sector is such a vital part of its business strategy
Analyst predicts spending on Robotic Process Automation will rise XX per cent next year, driven by price decreases