Company chair Peter Miles said 2009 sales totalled £31.8 million ($48.9 million Cdn.), a slight decrease over the previous year. However, the numbers also indicate a seven per cent increase over 2007 figures. Revenues from maintenance contracts last year increased year-on-year by 10 per cent, he added, contributing £10.7 million in sales ($16.4 million Cdn.).
Miles said the decline was to be expected, as the company maintained investment and employee levels in research and development.
“The reduction was in line with expectations and we anticipate profitability moving higher in the current financial year,” he said.
“Uncertainty over the timing and strength of the recovery in the global economy continues to make it more difficult than usual to forecast accurately. However, the continued growth of recurring revenues from annual software maintenance and support income, and the increase in new software sales in the later part of 2009 give us cause for confidence.”
