Staffware, a global leader in business process management (BPM) software, today announces an update on its trading performance in respect of the third quarter ended 30 September 2003.
For the third quarter of 2003, sales revenue was approximately lb8.3 million, an increase of 3% compared with the third quarter of 2002. Sales revenue for the nine months to 30 September 2003 was approximately lb29.4 million, compared with lb26.3 million for the equivalent period in 2002, an increase of 11.5%.
Cash balances as at 30 September 2003 were approximately lb22.2 million, compared with lb21.3 million as at 30 June 2003 and lb18.2 million as at 30 September 2002. The group has no material debt.
John O`Connell, Chairman and CEO of Staffware plc, commented: "Trading for the third quarter was relatively flat in what is traditionally the quietest period of the year for sales. We have again achieved a positive cash inflow for the quarter. While the timing of contract closures remains challenging, we are entering the fourth quarter with a high value of prospects. Accordingly, the outlook for the year remains in line with the board`s expectations."
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