RS2 Software plc - Interim Results

On 10 August, RS2 Software plc published its 2010 half-year results. The financial statements show a 6% increase in revenues to €2.8 million as the Group managed to increase its client base and experienced a general improvement in the extent of services requested by clients during the period under review in the licensing segment. The increase in revenue resulted in a 48.8% increase in earnings before, interest, tax, depreciation amortisation (EBITDA) to €471,207 and a likewise improved profit after tax for the period to €286,708 representing a 41.4% increase from the same period last year.

The subsidiary in the United States, Transworks LLC (the sole operating company of the Group in the processing segment), is still in its infant years and working to secure new business. The American subsidiary incurred a larger loss than that recorded in the previous comparable period.

With respect to the outlook, the Directors stated that although they remain cautious, they are confident that this level of performance can be maintained throughout the remainder of 2010. Moreover the Directors also revealed that banks in various in regions are showing interest in BANKSWORKS with prospective clients in the pipeline.

Similar to last year the Directors did not declare an interim dividend.

Download copy of the RS2 Software plc June 2010 Interim Results

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