Ever hungry, supply chain management specialist Kewill Systems Plc will be buying again in the coming year, having once again turned in what it claims are record profits for the year to March 31. Pre-tax profits were up 24% to #7.4m ($12.3m) on revenue that was up 17% at #41.3m ($68.8m). Kewill’s main geographical operating areas are the UK, US, Germany and Austria, and it has seen a difficult year in the German-speaking areas, with what it describes as tough trading conditions compounded by a strong pound, reducing its overall results in these areas. However, the company says its joint marketing agreement with IBM Corp in Germany (CI No 2,284), has again come up trumps and the company has won new projects with its building and management product as a result. The strong US growth experienced by the company at the half year stage with its new Windows-based manufacturing systems looks about to be repeated in the UK, as the second half saw the company’s UK sales team achieve its first sales of the Windows product. Kewill’s warehouse management division, which it acquired when it bought Process Computing Ltd early last year (CI No 2,845), had a very good year. This was fueled by successful installations of the company’s Oracle-based products. The division is also trialing its hands free, voice-recognition terminals designed specifically for warehouse environments. Chairman Kevin Overstall said this places the division well for the coming year. Kewill’s electronic commerce division, expanded by its acquisition of Meadowhouse Bar-Laser Ltd (CI No 2,924) and a team of developers from UK government agency SITRPO, also saw increased profits in the year. The group ended the year with cash balances of #7.2m ($12m) and Overstall suggests the cash, which has always seemed to burn a hole in Kewill’s pocket (CI No 2,691), will once again be spent this year on focused acquisitions in the growth areas.
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