- Operating profit* up 16% to £21.6 million (2006: £18.5 million.
- Operating margins increased to 17.0% (2006: 14.8%.
- Gross profit up 23% to £82.1 million (2006: £66.5 million).
- Turnover up 1% to £126.9 million (2006: £125.0 million.
- Turnover related to owned software products up 25% to £92.3 million (2006: £73.7 million)
- Consulting services revenue up 23% to £32.3 million
- Software licence fee revenue up 10% to £23.6 million
- Managed services and support revenue up 40% to £36.3 million
- Statutory results for the year were turnover of £126.9 million (2006: £125.0 million) and operating profit of £8.2 million (2006: operating profit of £1.1 million). Basic earnings per share was 3.0p (2006: loss per share of 3.8p)
- Order book up 6% at £96.5 million (2006: £91 million)
- Strong cash generation with net cash flow from operating activities and before the cash effect of exceptional items at 92% of operating profit*
- Basic* adjusted earnings per share growth of 5% to 22.0p (2006: 20.9p)
- Proposed final dividend of 1.6p making a total for the year of 2.4p (2006: 2.18p), an increase of 10%
- Successful completion of the VT Software Solutions Ltd acquisition, with operational benefits delivered ahead of expectations
Operational Highlights:
- Continued new order intake with more than 80 new contract wins
- Market structure implemented in the UK to focus resources on specific growth opportunities
- Service transformation unit established in local government to target service delivery projects
- Good progress in social housing through enlarged customer base
- Excellent growth and strong pipeline in education, with further investment in Building Schools for the Future programme
- Return to growth in the enforcement sector
- International operations expanded with new wins in Singapore, Malaysia and Brunei
* before goodwill amortisation, exceptional items and LTIP charges.
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