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Results from Bond International

Results from Bond International

Bond International Software plc, the specialist provider of software for the international recruitment and human resources industries, with operations in the UK, USA and Asia Pacific, today announces its unaudited interim results for the six months to 30 June 2010.

KEY POINTS

Group revenue at 15.1m (2009: 17.1m)

No material change in the level of recurring revenues at 9.04m (2009: 9.04m)

Continuing successful transition of sales model to improve forward visibility and quality of earnings but causing a short term impact on margins and profit

Gross margin at 88% (2009: 92%)

Operating profit before amortisation of 1.1m (2009: 2.4m)

Pre - tax loss at 680,000 (2009 profit: 799,000)

Adjusted EPS of 1.34p (2009: 3.22p)

Commenting on the results, Group Chief Executive Steve Russell said: "The second half of the year has started off on a more positive note. We are seeing some signs that the market for staffing software is recovering with some more positive decision making seen in our customer base. Whilst none of the evidence of recovery in the staffing market is conclusive and neither does it indicate the speed of recovery, the board firmly believes that the worst is over and that business will start to improve in the last quarter."

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