UK-based software and consultancy company MMT Computing Plc has every reason to feel confident about its future. The announcement of a 47% rise in pre-tax profits for the year to August 31 to 4.5m British pounds on revenue up 21% at 16.9m pounds pushed up the share price by a further 1.5 pence to 541.5 pence by midday yesterday. This time last year the price was hovering around the 208 pence mark. And the London-based group is back on the acquisition trail. Managing director Mike Tilbrook said the company was set to sign two deals to acquire software houses today. The first, a packaged software house that trades within the healthcare, metals and futures and options market is due to sign a conclusive deal today. The second, a software house in the energy market, should be completed within the next three weeks, said Tilbrook. Both the mainstream of MMT, run from London, and the now wholly-owned South-East subsidiary performed well during the year, and contributed some 96% of the groups profits. In contrast, the company’s associate company, Reading-based MMT Computing Ltd in which the group holds a minority interest, continued to be a disappointment. MMT Computing AS, the joint venture formed with the DataSure arm of the former C E Heath Plc, which was spun off as part of Rebus Plc earlier this year, closed down during the period. According to Tilbrook, the division had been profitable in the past, but more recently staff levels had fallen to single figures and both sides felt it was time to call it a day. MMT continue to find the task of recruiting the right staff somewhat difficult, but never-the-less increased headcount by 25% at year end to 375. The new year began with an outstanding order book. Cash balances were up at pounds and Tilbrook said MMT felt pretty buoyant; we’re well ahead of our own targets, and see no reason why it shouldn’t continue throughout the current year. A final dividend of six pence makes 8.7 pence for the year, a 40% rise.
