Our financial strategy focuses on strong balance sheet and cash generation. We ensure prudent investment in our products and services in line with the prevailing market conditions.

Financial performance 2019 2018 2017 2016 2015 2014
12m to Dec 12m to Dec 12m to Dec 12m to Dec 12m to Dec 12m to Dec
Results £’000 (as reported) (restated) (as reported) (as reported) (as reported) (restated)
Revenue
Software 25,398 22,220 19,996 17,795 15,260 15,172
Discontinued operations 1,400 1,312
Operating Profit before amortisation of intangible assets and exceptional items
Software 5,400 4,479 3,396 2,225 1,621 1,416
Continuing operations 5,400 4,479 3,396 2,225 1,621 1,416
Amortisation of intangible assets (1,445) (1,124) (1,035) (631) (495) (372)
Exceptionals (143) (689) (138)
Operating profit/(loss) 3,812 2,666 2,361 1,594 1,126 906
Finance expenses (339) (272) (107) (90) (120) (220)
Profit/(loss) before taxation 3,473 2,394 2,254 1,504 1,006 686
Taxation (772) (598) (357) (261) (204) (173)
Profit/(loss) after taxation 2,701 1,796 1,897 1,243 802 513
Adjusted EBITDA (continuing operations) 6,302 5,257 3,643 2,753 1,795 1,603
Operating cash flow 6,669 5,017 4,167 2,422 1,640 (353)
Non-current assets 25,740 26,773 15,964 15,658 12,565 12,829
Working capital 5,066 4,814 (4,867) (4,005) (3,646) (3,799)
Net bank borrowings / (cash) (1,101) 1,814 (1,031) (1,304) (803) (2,035)
Shareholders equity / (deficit) 17,924 15,479 11,486 9,716 7,893 6,722
Ratios
Net borrowings / (cash) % shareholders equity 6% 12% 9% 13% 10% 30%
Current assets/current liabilities 0.98 0.87 0.82 0.70 0.62 0.57
per Ordinary Share (pence)
Basic earnings per share (continuing operations) 3.3 2.3 2.5 1.7 1.1 0.8
Net assets / (deficit) per share 21.8 18.9 14.8 12.6 9.4 10.1
Dividends per share 0.7 0.68 0.60 0.40