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Bond International Software 2011 Unaudited Preliminary Results

Bond International Software 2011 Unaudited Preliminary Results

Bond International Software plc, a world leading supplier of staffing, HR and payroll software and outsourcing , with operations in the UK, USA, Hong Kong, Japan, China and Australia, today announces its unaudited preliminary results for the year ended 31 December 2011.

KEY POINTS

• Revenue up 30% to &pound36.8m (2010 restated: &pound28.3m)

• Recurring revenue grew by 28% to &pound22.4m (2010: &pound17.5m) representing 61% of revenue (2010:62%)

• Operating margins (before share of joint ventures and amortisation of intangible assets) improved to 14.2% (2010: 7.8%) reflecting change in mix of licences and services

• Operating profit before the amortisation of acquired intangible assets and exceptional items of &pound2.59m (2010: loss &pound0.1m)

• Adjusted* profit after tax of &pound1.95m (2010: &pound0.1m)

• Adjusted* diluted earnings per share of 4.71p (2010: 0.37p)

• IFRS diluted loss per share 3.08p (2010: 2.40p)

• Net cash generated from operating activities of &pound5.15m (2010: &pound3.31m)

• Net debt reduced by &pound1.55m (2010: increase in net debt of &pound0.99m)

• Proposed dividend increased 50% to 1.2p

* Adjusted for the amortisation of acquired intangibles,share based payments expense. exceptional items and impairment of intangible assets

Commenting on the results Chief Executive Steve Russell, said:

"2011 has been a year of operational progress for Bond as we continue our recovery from the difficult environment of 2009 and 2010.

2012 has begun positively and we are confident that the Asia Pacific market will provide significant opportunities going forward. It is on this basis that the Board has recommended a dividend of 1.2p per share, a 50% increase on last year"

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