Transware, the international content management company which employs 230 people in Co. Sligo, has reported a turnover of £6.3 million for the second half of 2001, up 46 per cent on the same period last year.
According to figures released earlier today, the company achieved strong growth in both revenue and profit over the period with EBITDA up 111 per cent to £1.3 million (2000: £0.6 million).
Pre-tax profits rose by 37 per cent to £0.62 million
The Group's net assets at 31 December 2001 were £4.2 million (equivalent to 11.73p per share) and net cash resources amounted to £1.5 million (equivalent to 4.14p per share).
During the period the Company raised some £0.63 million net of expenses by placing 1,473,000 ordinary shares with institutions at 44p per share. In line with the Company's policy of reinvestment for growth, the directors are not recommending payment of a dividend.
Transware also announced new contracts worth $2 million with US companies Digital Think, NCR and Stellent.
Speaking at the publication of results earlier today, Mr Brian Raven, chairman of the company also predicted steady growth over the course of 2002, albeit slower than last year.
"The past six months has seen a period of continued steady growth, " Mr Raven said.
"However, in the current global economic climate, customers and prospects are still taking longer to sanction expenditure on new projects than they did a year ago.
"We remain cautiously optimistic regarding our future prospects in the short term and are convinced that the strategy we have put in place over the last year, together with our focus on cost control, will underpin the continued development of the business."