Today Maconomy presented its best Q1 ever. Maconomy surged ahead on the important UK market, delivering an increase in software licence revenue of 354 percent. Maconomy achieved total revenue growth of 9 percent as well as an EBIT improvement of DKK 3.3 million in the traditionally sluggish Q1.
The international ERP provider Maconomy today announced its interim report for Q1 2010 and the investors were treated to the second impressive quarter in a row after the financial crisis. Maconomy achieved revenue of DKK 56.7 million, an increase of 9 percent compared to last year. The company also secured an EBIT profit of DKK 0.2 million, an improvement of DKK 3.3 million compared to the same quarter in 2009. This is a highly satisfactory result as Q1 is usually sluggish in the IT industry, which normally collects most of its profits in the second half of the year.
Maconomy grew all of its business areas in the first quarter. Software licence revenue grew 15 percent to DKK 12.1 million while consulting revenue rose by 9 percent to DKK 23.3 million. Finally, revenue from support and maintenance subscriptions increased by 7 percent to DKK 20.6 million.
"It becomes increasingly evident that the financial crisis has put efficiencies and control on the agenda in the Professional Services sector. Of course this trend is grist to Maconomy’s mill and it brought solid growth and profit in the first quarter of the year, which is the best first quarter in company history. Through 20 years of collaboration with some of the most well-run Professional Services organisations in the world we have accumulated deep insight into how we can improve their business and their results. This record achievement gives us a big boost in our efforts to capture the vast market potential waiting for us out there," says CEO Hugo Dorph, Maconomy.
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