Bracknell, UK-based production workflow specialist Staffware Plc says its interim results are its best ever with increased business in the US helping it along. The company that floated on the Alternative Investment Market in June last year saw its pre-tax profits climb 296.0% to 372,978 pounds on revenue that rose 90.4% to 7.7m pounds. The company says its new-found success has been partly due to the successful launch of two new products, Staffware 97 and Staffware Global, but says it has suffered somewhat from the strength of sterling, and chairman Paul Fullagar estimates the company lost some 500,000 pounds as a result. In the six months to June 30, the company added over 50 new employees to its staff lists, bring the total to some 200. Fullagar says predictions suggest the workflow market is set to expand and according to the company’s performance that would seem to ring true. The Daily Mail reported there are some 200,000 Staffware program users across the world, and predicts this figure could increase by up to 10 times. But it’s not all sunshine and roses. Staffware has said it won’t be paying an interim dividend because it wants to retain its cash to support an expected growth in working capital. Fullagar added that the company is committed to a progressive dividend policy and wants to be able to announce one at the end of the financial year.
