Highlights
| Year ended
31 December 2011 £m |
Year ended
31 December 2010 £m |
Change | ||
|---|---|---|---|---|
| Revenue | 31.72 | 33.13 | (4)% | |
| Profit before tax | 3.86 | 5.62 | (31)% | |
| Adjusted EBITDA* | 6.12 | 8.45 | (28)% | |
| Annualised recurring contract revenue (constant currency) ** | 29.41 | 28.35 | +4% | |
| Earnings per share - basic | 4.8p | 6.8p | (29)% | |
| - adjusted* | 5.7p | 8.2p | (30)% | |
| Dividend per share total for year | 2.6p | 2.4p | +8% | |
Highlights
- Annualised recurring contract revenue up 4% to £29.41 million (2010: £28.35 million **)
- Maintained high renewal rate on recurring contracts at 92% (2010: 92%)
- Annualised recurring contract revenue for StatPro Revolution of £0.47 million (2010: nil)
- Adjusted EBITDA* reduced by 28% to £6.12 million (2010: £8.45 million) in year of increased investment in cloud technology solution
- Cash flow from operating activities (before exceptional items) of £10.37 million (2010: £10.66 million)
- Net debt reduced to £3.40 million (2010: £5.52 million) and represents 0.56 times adjusted EBITDA (2010: 0.65)
- Total dividend increased by 8% to 2.6p (2010: 2.4p)
* Adjusted EBITDA and adjusted earnings per share are EBITDA and earnings per share after adjustment for amortisation of acquired intangibles, share based payments and exceptional items.
** Annualised recurring contract revenue is revenue contractually committed at year end. Comparative is at constant currency.
