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smartFOCUS expects strong first half results, profit and revenue above budget

Published: 03:23 21 Jul 2009 EDT

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Marketing software specialist smartFOCUS Group PLC (AIM : STF) expects to report results for the half year ended 30 June 2009 ahead of the board's expectations with strong growth in revenue and  profit compared to budget.

In a pre-close trading update, the group said, revenues are expected to be up approximately 13 percent and profits significantly ahead of the previous first half. Cash flow in the period remained strong, with cash balances as at June 30 2009 of £1.5 million, the same as at end-December 2008.

SmartFOCUS experienced continued strong demand for its solutions, especially for digital products delivered in the SaaS (software as a service) model, with revenues associated with digital marketing, now making up approximately one-third of the group’s revenues.

Furthermore on-going investment from the company's partners and clients remained strong and renewal rates continue to be high.

Chief executive Chris Underhill commented: 'We are pleased with our performance in the half year. The business has fully migrated its business model to deliver highly recurring and more visible revenues, offering more of our software as a service model. This change has been well received and demand, especially in on-line, has delivered significant new contract wins alongside strong customer retention and renewal rates.

“In summary, smartFOCUS' progress, positions the company well for continued success, both for the remainder of this year and beyond,” he added.

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