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Norkom Group plc - Interim Results for the six months ended 30 September 2006 |
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November 14, 2006 - Dublin , Ireland – Norkom, a leading provider of financial crime and compliance software solutions today announces its interim results for six months ended 30 September 2006.
Key performance highlights include:
Financial
- Revenue up 41% to €11.5 million (2005: €8.1 million)
- EBITDA profit up 31% to €2.1million (2005: €1.6million )
- Basic earnings per share up 22% to 2.18c (2005: 1.8c)
- Revenue from license up 77% during the period
- R&D investment up 50%
- Sales and marketing investment increased 65% as the company continues its geographical expansion program
Business
- Norkom executed a successful IPO with a listing on both the AIM and IEX markets on 26th June 2006.
- Norkom’s market franchise continues to rise with several new clients added during the period. Business winning investments in Europe and North America have delivered strong license growth in the first six months of 2006.
- Norkom's competitive strength and visibility in the market has improved with significant achievements being made in the AML (Anti-Money Laundering) market in particular. A new report by Celent, an international research firm serving the financial services industry, found that Norkom’s anti-money laundering solution outclasses its competitors’ offerings in the global market place.
- Geographical footprint extended in the last 6 months with a new office opened in Sydney, Australia to service the AsiaPac market. This has been coupled with the appointment and secondment of experienced Senior Management team members.
- Norkom’s management and sales execution capabilities continue to grow with emphasis on expanding our strength in regional operations.
Commenting on the strong six months Paul Kerley, Norkom’s Chief Executive Officer said: “Norkom has had a successful six months and we are pleased with the progress that has been made. We believe we are well positioned to meet the evolving customer needs in financial crime prevention and we look forward to the rest of the year with confidence.”
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