Megabuyte - Technology sector intelligence

Ffastfill has announced interim results this morning which show revenue up 4% to £7.3m and operating profits increased 13% to £0.6m. The relatively modest headline revenue growth number belies a stronger underlying performance in the core business for two main reasons. First, there is a planned reduction in low margin third party revenues which depresses the headline figure and, secondly, there is the residual impact of the large customer lost to the banking crisis which resulted in a £0.7m reduction in revenue. Excluding these two factors, underlying growth was more like 20%. We had a chance to chat through the results with CEO Hamish Purdey and Chairman Keith Todd and our main impression was that, after a relatively weak period for trading conditions, sales momentum seems to have returned to Ffastfill.  Read our full analysis in Newswire Plus.

Azzurri’s bank debt still edging up

Azzurri has released FY09/10 accounts for its operating subsidiary, showing a small increase in gross margin and EBITDA on revenues 5.7% down at £141m, enabling £8.6m to be sent up to the holding company. We spoke with CEO Mark Quartermaine and CFO Tim Maynard about prospects for this financial year, during which the company will need to make considerable progress in renewing its (slightly increased) £109m of bank debt. Premium subscribers can read our analysis of the results here and Premium Plus readers can see our profile and analysis of Azzurri, at both the operating and parent company level, here.

Idox closes out a solid year; profits ahead of expectations

Supplier of software and services to the Local Authority market Idox has issued an upbeat trading statement this morning covering its year ended October. Whilst revenues for the year will be down slightly as expected, profits will show a significant improvement; ahead of expectations. Driving the profit outperformance was generally better productivity in the group as well as a strong showing from recent acquisitions. Idox shares have opened up 11% this morning taking them to their highest level since 2006. We had a chance to catch up with CEO Richard Kellett-Clarke this morning and Premium subscribers can read our thoughts following the conversation in Newswire Plus.

Zoo’s flat half masks an improved outlook

Hollywood software supplier Zoo Digital has reported flat first half revenues, but improved profitability. The flat revenues masked a considerable improvement in Zoo’s outlook, given progress at extending the product range and starting to diversify beyond the core Hollywood market. We managed to grab a few minutes with CEO Stuart Green, who characterised the half as building new and deepening existing relationships, which should lay the foundations for future growth. Premium subscribers can read our full review of the result in Newswire Plus.