LONDON (Alliance News) - Stilo International PLC Thursday expressed confidence for further progress in 2014, as it posted a rise in pretax profit in 2013 with revenues boosted by new customer wins.
The software company posted a maiden total dividend for the year of 0.15 pence, including the special dividend of 0.10 pence paid in October. The dividend payments followed a capital reduction exercise.
The company posted a pretax profit of GBP153,00, up from GBP60,000, as revenue rose to GBP1.5 million from GBP1.4 million. It posted an exceptional cost of GBP34,000 in relation to legal and other costs of the capital reduction.
Revenue was boosted by new customers wins for its Migrate cloud extensible markup language content conversion service, and its Omnimark content processing platform. The company also released new versions of the two products during the year. Revenues in Asia grow 34% as it received orders for OmniMark from the Japan Patent Office.
Extensible markup language, also known as XML, is a coding format for documents.
The company said its trading in the first two months of 2014 had been in line with expectations, and it would continue to work on the development of new XML content processing services.
Shares in Stilo were trading down 3.7% at 3.25 pence Thursday morning.
By Hana Stewart-Smith; hanassmith@alliancenews.com; @HanaSSAllNews
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