On 29 November Crimsonwing plc announced its half-year results for the period ended 30 September 2010. Group revenues rose by 17% over the same period last year to €7.1 million. The company stated that this is the highest first half revenue ever recorded by Crimsonwing. Also, the Group’s revenue currency mix is showing a healthy growth in Euro sales which now represents 47.3% of all sales (the balance being UK Sterling). Overall EBITDA increased 34.6% to €542,617 (2009: €402,942) resulting in a profit before tax of €293,272 – an increase of 91.1% over the comparative period.
Crimsonwing explained that conditions continue to be challenging and competitive however the Group continues to have good propositions across E-commerce, Enterprise Resource Planning, Business Intelligence and Custom & Integration solutions. The Group explained that even though the overall performance is good, Crimsonwing has a challenging area (relating to the Crimsonwing BV business) which it is currently dealing with and bringing under control. This business segment has had to undergo management change.
Meanwhile, considerable investment is also being made in the recruitment and training consultancy and delivery capabilities in E-Commerce, Enterprise Resource Planning and Business Intelligence as demand in these areas is increasing and there is a shortage of qualified personnel in the labour market.
Download a copy of the Crimsonwing plc – September 2010 Half-Year Report