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Bond International Sees Confidence Returning

Bond International Sees Confidence Returning

Bond International Software Plc ("the Group"), 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 2013.


•    Recurring revenue of &pound11.7m (2012: &pound11.7m) now represents 94% of fixed operating costs (2012 90%)

•    Administration expenses reduced 5% to &pound12.4m (2012: &pound13.1m)

•    Operating profit up 35% to &pound1.35m (2012:  &pound1.0m)

•    Diluted earnings per share of 1.18p (2012: 0.43p)

•    Adjusted fully diluted earnings per share up 45% to 2.65p (2012: 1.83p)

•    Net debt reduced from &pound1,790,000 to &pound208,000


•    Strong growth in Outsourcing Division

•    HR and Payroll contract win with Carpetright announced March 2013

•    Bond Adapt contract win with Academic Work announced May 2013

•    New US recruitment software AdaptSuite launched February 2013 and gaining traction

•    In line to meet market expectations for the full year

Commenting on the results, Group Chief Executive Steve Russell said: "There is no doubt that confidence is returning to the major markets in which we currently operate.  We are seeing an increase in demand for our staffing software both in the UK and the US which should lead to revenue growth in the second half of 2013 and into next year. 

Bond continues to work with some of the world's largest recruitment companies on deals to sell them the latest version of Adapt which will hopefully result in a series of material contracts over the next few years. Our Asia Pacific operation is on track to complete their first major implementation in Japan which we expect to complete in the last quarter of the year. "


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