Learmonth and Burchett Management Systems Plc preliminary results to April 30 1988, shows a healthy build up of cash to finance acquisitions – UKP2.9m – which the company says it is actively seeking in the computer-aided software engineering area; continued profit and turnover growth in its all-important first year as a public company, against a 67% increase in research and development expenditure to UKP1.1m, which the company says will slow to match turnover growth next year. Learmonth has been selling software for only three years, having previously concentrated on the teaching of data processing methods and training, and has reaped good margins on software business that has grown 100% in the UK, clearly its star sector. US business has grown in line with overall turnover, and the company expects this year to introduce significant function into its main software product Automate Plus, including versions for developing real-time applications as well a entering two new product areas, strategic planning and project management.
