Portrait Software set for return to profit
Portrait Software set for return to profit
Portrait Software says its expects to swing back into profit for the first half with revenue ahead of last year.
The customer interaction software provider says its proportion of high-margin licence revenue is expected to have doubled.
Benefits of last year’s cost-efficiency programme are flowing through as intended, says chairman Paul Hewitt in his AGM statement, ‘which combined with our top-line growth means we expect to report a profitable first half in comparison to a loss in the first half of the previous year’.
Hewitt adds, ‘The growth in licence deals has been generated primarily from growing demand for our portfolio of customer marketing applications, with our US region and global partner channel sales performing strongly.
‘We have secured 23 contracts in the first half so far, an increase of over 64% on the same period last year. In particular, our predictive analytics applications are generating a great deal of interest, with businesses placing an increased importance on customer retention and cross-sell in today’s climate.’