Newbury, UK: Mediasurface has today announced a highly successful first six months since floating on the Alternative Investment Market (AIM) in August 2004, which coincides with financial results ahead of market expectations.
Group revenues for the first six months increased by 29% to £3.66 million (2004: £2.83 million). The Group achieved a pre-tax profit of £0.14 million (2004: Pre-tax Loss £0.15). Net assets stood at £1.67 million compared with £1.46 million at 30 September 2004. Behind these headline numbers the company is pleased to report that all of its revenues streams showed growth on the same period last year with:
• licence sales up 36%
• consultancy and training up 44%
• recurring revenues on an annualised basis up 11% from £1.72m to £1.91m
During the last six months, Mediasurface has closed 25 new deals, and signed its biggest ever single deal to supply intranet-related services to Citigroup's Corporate and Investment Banking group across EMEA. The deal, worth in excess of £500,000 will contribute over £400,000 in this financial year. This represents a major win for the Company and has considerable future potential.
Other significant wins in this period included new contracts with the Home Office and an additional contract at Ofcom. Those deals, collectively worth in excess of £400,000 in this financial year, further establish Mediasurface as a key supplier to the Government sector.
In addition to these new wins, Mediasurface also secured contracts with the Office of the Deputy Prime Minister, Intercontinental Hotels, UFI, Shire Housing, and Argyle and Bute District Council.
David Deacon, Mediasurface Chief Financial Officer, said: "This set of results is a clear demonstration of the success of Mediasurface and our flagship product Morello. The record of new business won in the last six months, with such names as the Home Office and Citigroup, shows that some very significant customers have invested in our time, our expertise and our vision. These are exciting times for Mediasurface and our investors should take comfort that we have great products, great management and great prospects."
In April, Mediasurface announced the acquisition of Class-Act BV, the Netherlands-based supplier of the Silverbullet content management system.
Silverbullet is a low-cost ASP ('Application Service Provider') solution with many customers and profitable revenue streams. This deal allows Mediasurface to cover the full range of customers seeking content management solutions: from low-end to high-end, both through the Silverbullet product and Mediasurface Morello.
Mediasurface empowers the business user to build and manage sophisticated content-driven websites. By providing business users with easy to use software that combines an interactive, graphical look and feel with industrial strength technology, Mediasurface enables them to regain complete ownership of their sites. This removes the burden of continually maintaining and updating sites from IT departments, allowing them to refocus on their core task of adding real business value.
Mediasurface helps organizations reduce the risks and costs involved in building and running websites and other digital channels. It increases their ability to keep pace with change and assures the quality of the content published.
An AIM listed company (ticker: MSR) headquartered in Newbury, UK, with offices in the US and the Netherlands, Mediasurface products and services have been implemented to drive hundreds of web applications solutions for customers across the United States and Europe.
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