Megabuyte - Technology sector intelligence

Vodafone has maintained the progress evident in Q1 (Premium Plus readers see here) with a further uptick in organic revenue growth in Q2, with progress across the board, and raised profitability guidance for the year by 2-5%. The company has also sold its interests in Softbank Japan for £3.1bn.  Vodafone has outlined a new strategy which includes placing more emphasis on mobile data (including transitioning to usage-based pricing), more B2B services, converged communications (leveraging broadband networks), and investment in selected new services such as m2m and mobile financial services. The future is looking a bit brighter for Vodafone. Premium subscribers can read our first thoughts on the results in Newswire Plus.

Steady first half for Kewill; Bach to leave

Interim results out this morning from trade and logistics software specialist Kewill report on further steady progress in the first half with underlying revenue growth of 3% and operating profits ahead 12% to £4.2m. Perhaps the more insignificant news, however, is that CFO Karen Bach is leaving the company after only a year in the post. In another board change, the Chairman’s spot, which was vacated by Andy Robert when he decided to go full time at Innovation Group, will be taken by former Wolfson CFO and Craneware Chairman George Elliot. We were able to catch up with Paul Nichols and Karen Bach this morning – Premium subscribers can read our views on the results, Bash’s departure and Kewill’s acquisition plans in Newswire Plus.

Norkom delivers on lowered expectations

Financial crime detection software specialist Norkom has issued its half year results this morning which were trailed by a recent profit warning (Premium Plus subscribers can read our write up of the results here). The warning cited longer sales cycles and regulatory changes in Asia for the problems but was also clear that management had taken the strategic decision not to cut costs heavily and risk undermining future growth. As a result, whilst revenues in the first half were only down to €22.6m from €24.6m, adjusted EBITDA was two thirds lower than H1 2009 at €1.6m. Read our full write of the results in Newswire Plus.

Aepona’s focus on mobile network as a service applications

We initiate coverage on Aepona, a Northern Ireland based developer of network as a service mobile applications, enabling mobile operators and service/content providers to easily enhance the functionality of their services. A key focus for Aepona is mobile payment and settlement, particularly Direct to Bill payments. The company has accumulated a blue chip VC investor base including Amadeus, SAP Ventures and Blackberry Partners Fund, who have funded accumulated losses of £37m. Premium subscribers can read our initiation note here and Premium Plus subscribers can view the Aepona profile on the Megabuyte database here