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Macro4 - Repeat revenue now 63% of sales

March 2004

Investing in shares may lose you all or some of your money. Past performance is no indication of future performance. Some of the shares recommended here may be small company shares, which can be relatively illiquid and hard to trade and this makes such shares more risky than other investments.

  • Epic Code:
  • MAO
  • Price:
  • 174p
The shares moved to a 52-week high shortly following the release of results for the six months to 31 December. Turnover was £15.1m, down from £16.5m the year before, with pretax profit at £1.2m from breakeven a year ago. The balance sheet remains strong, with £4m of net debt, but with £3m cash in hand, and an unused facility of £7m.As expected, sales in the legacy systems management products  (SMP) business continued to decline  reflecting further reductions in rental income from old out-of-date products mostly based on IBM's VM/VSE mainframe technology and slightly lower US revenues. Overall, sales slipped 13% to £9.4m compared to H1 2003 but were up by 1.5% sequentially on H2 2 ...

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