StockMarketWire.com - Financial management software group Aptitude Software reported a fall in first-half profit amid a tough comparator as last year's results included the contribution from Microgen Financial Systems.

For the six months ended 30 June 2020, pre-tax profit fell to £4.5m from £27.4m on-year, while revenue fell 1% to £29.1m.

The prior year profit included the contribution of Microgen Financial Systems, which was sold in June 2019.

Year-on-year growth in annual recurring revenue was 11%, driven by new business wins and add-on sales to existing clients.

Based on the group's financial performance in the period and the expectation that the business would remain 'comfortably' profitable and cash generative in the period expected to be impacted by COVID-19, the company maintained its interim dividend at 1.8p a share.


At 9:48am: [LON:APTD] share price was +0.5p at 409.5p



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