Friday, 9 October 2009

Encouraging signs for the Workplace

(By Philip Carnelley, 09:30, 9 Oct 09) In a trading update, AIM-listed Workplace Systems, provider of ‘workforce management solutions’ (time and attendance monitoring, management, scheduling etc.) to a variety of industries, said that recent orders indicate that “the backlog of projects which built up during the previous 9 months are now being released in the UK and Europe.” Workplace also highlighted a major order from a US retailer to roll out its SaaS solution across the company’s ‘several thousand’ stores during the coming financial year. The US is currently just 6% of revenues, so this could give a useful boost to that division and its SaaS offering generally.

Workplace Systems had a fairly difficult FY09 – especially the second half (to March 31), plunging into loss, with full year revenues slipping slightly to £9.6m. Despite this, Workplace is ranked 50th on our soon-to-be-published report on the UK software industry. Cost-saving measures have returned the company to break-even, with its US operation now in profit. If the orders are starting to roll in for the UK and Europe too, this bodes well for a better FY10.

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