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By | Team Register 11th January 2006 11:02

Systems Union hails record results

Nice

Systems Union Group will announce record results when it files accounts for the year ended 31 December 2005.

The accountancy software group has, helpfully, issued a trading statement today to let investors and analysts know what to expect - although they already know what to expect, as the results are in line with market expectations.

Sales in 2005 advanced 8.5 per cent to £113m (2004: £104.2m) and EBITDA (earnings before bad stuff) grew 14 per cent to £16.2m (2004: £14.2m). Revenue growth was particularly strong in Asia-Pacific and the Americas.

The company is a good generator of cash, ending the year with £23.7m in cash (2004: £16.5m). Strip out £15m in medium-term bank debt and the net cash position falls to £8.7m (2004: £1.5m).

Press release is here. ®

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