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Simon Downing, Chief Executive - Civica plc

“This has been another year of good progress for Civica both in the UK and internationally, supported by strong profits growth and cash generation. Our strategy of focusing on owned software and associated services has continued to deliver improvement in operating margins during the period. Given the sustained agenda for change in the public sector and the investments we are making across our core markets, the outlook for the business remains positive.”
Civica Presentation 4th December 2007 at 11:00am GMT



View presentation given by Simon Downing, Chief Executive - Civica plc here
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Preliminary Results‘Continued profits growth driven by expansion of own software related services’

Preliminary Results ‘Continued profits growth driven by expansion  of own software related services’
Civica plc (“Civica” or “the Group”), the software and services group focused on the public sector, today announces its preliminary results for the year ended 30 September 2007.


Key Financials

  • 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.

Civica is a leading provider of software and IT services that help customers to improve service delivery and efficiency, in particular supplying more than 1,700 public sector organisations in the UK, Australia, Singapore and the USA. Securing more than 80 new contract wins, the Group has continued to make progress during the period through both organic growth and acquisition, with the development of broader capability in education and social housing markets, expansion of international business and further improvement in operating margins.

Following the acquisition and integration of Comino in 2006 and VT Software Solutions Ltd in January 2007, Civica has focused around sectors in order to accelerate progress with broader customer opportunities in core markets.

Chairman's Statement

I am pleased to present preliminary results for Civica for the year ended 30 September 2007 and to report the continued delivery of good profits growth and cash generation in line with expectations.


Full press release can be viewed here...

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