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Innovation ShareCast News (TIG)
ShareCast News for Innovation (TIG)
| Share Price: 27.75 | Bid: 27.75 | Ask: 28.00 | Change: -0.25 (-0.89%) |  | ||||||
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Innovation Group back in profit
Wed, 25th May 2011 12:37
Business process outsourcing firm, Innovation Group, bounced back into the black in the six months to 31 March, with pre-tax profits of £4.26m
In the same period last year the company racked up £1.03m in losses and a £1.7m loss for the full year to the end of September.
The board said it was confident in meeting full year expectations after strong growth in software revenue and high profile business process outsourcing wins, including a deal to provide maintenance, repair and servicing for Tesco Cars customers.
Innovation reported earnings per share of 0.22p and said it had a cash pile of £29m.
Chief executive, Andy Roberts, said he was particularly pleased with the performance of the group in the first half.
"We have seen a return to strong organic growth and improved margins," he said.
"This, and the early success of our recently launched Insurer software gives the board confidence in meeting full year expectations."
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In the same period last year the company racked up £1.03m in losses and a £1.7m loss for the full year to the end of September.
The board said it was confident in meeting full year expectations after strong growth in software revenue and high profile business process outsourcing wins, including a deal to provide maintenance, repair and servicing for Tesco Cars customers.
Innovation reported earnings per share of 0.22p and said it had a cash pile of £29m.
Chief executive, Andy Roberts, said he was particularly pleased with the performance of the group in the first half.
"We have seen a return to strong organic growth and improved margins," he said.
"This, and the early success of our recently launched Insurer software gives the board confidence in meeting full year expectations."
----
mm
Wednesday broker round-up UPDATE
Afferro Mining: Panmure Gordon reduces target price from 279p to 100p, while keeping its buy recommendation.[22 May '13]
Innovation re-signs contract with South African insurer
Innovation Group, a global provider of business process services and software solutions to the insurance and property industries has announced the re-signing of a contract in South Africa with the insurer of one of South Africa's top four banks.[9 May '13]
Monday broker round-up UPDATE
Afren: Liberum Capital shifts target price from 130p to 136p and maintains a hold recommendation.[29 Apr '13]
Innovation signs seven-year contract with UK insurer
Software solutions provider Innovation Group has signed a new contract with a UK insurer to provide its supplier management solution product, Innovation Symbility.[26 Apr '13]
Former Guinness Peat Chairman trims his stake...again
A round-up of the biggest director buys today so far.[19 Dec '12]
Sector movers: Sage drags IT sector lower after full-year results
A sharp fall by Sage saw the software and computer services sector drop to the bottom of the pile on Wednesday afternoon.[5 Dec '12]
Revenue up 10 per cent at Innovation Group
Revenue at international business process services provider Innovation Group rose 10 per cent in the year ending September 30th, according to preliminary results published by the group on Wednesday.[5 Dec '12]
Wednesday broker round-up UPDATE
Avocet Mining: Goldman Sachs downgrades from neutral to sell.[21 Nov '12]
