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8 Jan 2013 07:00
8 January 2013
ALLOCATE SOFTWARE PLC
("Allocate" or "the Company")
First Half Trading Update
Allocate Software plc (AIM: ALL), the leading provider of workforce and compliance optimisation solutions, reports the following update for the six months ended 30 November 2012.
Allocate's performance in the first half year is in line with the expectations that were indicated in the trading update of 1 October 2012, with revenues marginally ahead of the first half of last financial year.
Whilst the first quarter's trading was slower than anticipated, the second quarter's trading was much stronger, with the company enjoying its second highest billing quarter for its HealthRoster application. HealthRoster contract renewals remain at 100%, with seven renewals closed in the half year.
The new Cloud service continues to exceed expectations, both in terms of the pipeline value and the number of contracts closed, having secured 13 contracts since launch in July 2012, including several multi-year contracts, two of which are with major teaching hospitals.
Other areas of the business including Defence, Maritime and Time Care, the Swedish subsidiary, also continue to perform satisfactorily.
The Company's results for the half year to 30 November 2012 will be released in early February 2013.
Ian Bowles, Chief Executive Officer of Allocate commented on the period:
"Allocate's business remains successful despite the challenging economic environment that our key customer groups are operating in.
"After a very slow first quarter, our performance in the second quarter met management expectations, with every contract forecast for the quarter being closed. In addition our policy of driving more business on to a recurring basis will benefit future reporting periods.
"The growth in both our Cloud Services and our other subscription revenue streams are positive indications of our success in evolving our business. I expect this trend to continue and I do so with confidence knowing that Allocate is now in a position to offer customers the flexibility to deploy our solutions either on-premise, or via a fully managed Cloud service.
"Pipeline levels in our healthcare businesses in Sweden and Australia remain high and I am delighted to see that so many NHS Trusts are still seeking to engage with us about our products and solutions.
"I am confident that we will carry the strong momentum of the second quarter into the rest of the financial year, building the quality and predictability of our revenue streams as we do so."
Enquiries:
Allocate Software plc Ian Bowles - Chief Executive Officer Chris Gale - Chief Financial Officer Martin Jeffries - Marketing Director
| Tel: +44 (0) 20 7355 5555 |
Numis Securities Nominated adviser - Simon Willis / Richard Thomas Corporate Broking - James Black
| Tel: +44 (0) 20 7260 1000 |
Gable Communications Justine James John Bick | Tel :+44 (0) 20 7193 7463 +44 (0) 7525 324 431
|
About Allocate Software plc
Allocate Software is the leading workforce and corporate governance software solutions provider for world-wide organisations with large, multi-skilled workforces. With a blue chip client base spanning the public and private sector, its key vertical markets include Healthcare and Defence.
The experience and in-depth knowledge gained in the UK and internationally has enabled Allocate to invest in developing innovative solutions that are relevant to the constantly evolving market needs of its customers. At the core of the business is Allocate's workforce optimisation software, which streamlines the whole workforce management of multi-disciplinary groups, across diverse locations.
Headquartered in London, Allocate provides services and support to its increasing international customer base through regional offices in the UK, Sweden, USA, Australia and Malaysia.
Allocate is quoted on the London Stock Exchange (AIM: ALL).
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