RS2 Software plc - Full-Year Results

The 2008 full-year results of RS2 Software plc were published following a Board of Directors meeting held on Tuesday 17 March 2009. The Directors approved a final net dividend of €0.022 per share to those shareholders on the Company’s register as at close of trading on Wednesday 8 April 2009. The shares will trade ex-dividend as from Thursday 9 April 2009 whilst the dividend is expected to be paid on Tuesday 19 May 2009.

During the year to 31 December 2008, the Company’s revenue increased by 33% to €8.34 million. This revenue was generated from the sale of licenses to new and existing clients, maintenance fees and enhanced services together with the additional income from the introduction of Comprehensive Package Agreements in 2008 which provide a fixed stream of revenue. RS2 generated a profit after tax of €2.55 million representing a 24% increase over the previous year.

However this fell short of the estimated profit of €3 million that was projected by the Directors’ at the time of the Initial Public Offering. RS2 explained that this shortfall was due to a higher than expected increase in cost of sales and the provision for an impairment loss relating to the doubtful recovery of receivables from one particular client.

A copy of the Preliminary Profits announcement can be downloaded here.
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