Rolfe & Nolan Computer Services Plc, the London EC1-based computer bureau company, is still coping well in a flat UK market, reporting pre-tax profits up 37% at UKP1.4m for the year to February 28, on sales up 15% at UKP6.3m. Bureau and facilities management revenues increased by 9% to UKP3.8m, while some competitors went out of the running. Software support for existing licensees of in-house systems has become important for recurring revenue – added to turnover from bureau and facilities management services, total recurring revenue increased by 18% to UKP4.4m, accounting for 70% of total revenues, compared with 68% in 1990. Revenue from software licence-related sales increased by 38% to UKP1.4m – a growth helped mainly by 10 new client sales, including six installations for Austrian banks participating in their new futures and options exchange, two sales to German banks, one to a Swiss bank, and one to a UK client. The company expects over half the Austrian licence and related revenue to accrue in the current year. Sales and marketing are reported to be thriving, particularly in continental Europe, and six Benelux customers have subscribed to the bureau service. Since the year end, a further two licence sales have been completed in Austria. And a bureau service based on Rolfe & Nolan software is expected to be launched in Vienna in October – some 24 continental banks now license the software, says the comapny. Orders for additional modules are expected during this year or early next year when futures products are introduced. Following the maturation of the UK market, Rolf & Nolan has become largely dependent on continental European licence sales. The company reports that cash levels stood at UKP2.4m at year end.
