Trace Computers Plc, a London UK IT software and services firm, has recorded retained profit for its preliminary yearly results to May 31 up 333.1% at 3.8m pounds ($6.0m) on revenue that rose 16.4% to 17m pounds ($27.2m). Earnings per share rose 324.5% to 25.9 pence per share ($0.42), although this includes cash from sold stock and 2.4m pounds from a property valuation. Without these, earnings per share would be 10.2 pence ($0.16), an increase of 66.9%.
Trace has had, in the words of finance director Peter Stolerman, a chequered past, including foundation in 1974, flotation in 1989, and losses of 5m pounds ($8m) only three years ago. The recent revival is partly due to the influence of CEO John Perry, who sold off distribution software provider Proteus and computer supplies vendor Wordflow in financial year 1998.
Instead, Trace has concentrated on three core areas, insurance and re-insurance broking software with the Trace Isys division, property management software with Trace Solutions, and middleware, licensed from Georgia, US middleware firm HIE Inc, for the financial market, Trace Financial. The group also boasts a payroll arm, Trace Employment Services, and an IT recruitment agency, Prospect, though these two make up less than 10% of total revenue between them.
Stolerman picks out Trace Financials for particular mention. Although, it is not the largest sector of the business by revenue (17%, compared to Isys’ 28%and Solutions’ 24%), it is well into the black for the first time, he says. The customizable software can link any financial computers together for ‘straight-through processing,’ transaction processing with minimum change.
