| CATEGORY: SMALL CAPS NEWS SECTOR: SOFTWARE & COMPUTER SERVICES |
Need to cut costs boosts Sopheon |
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Wed 28 Jan 2009
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LONDON (SHARECAST) - Sopheon became the latest software group to say it is benefitting from the recession as clients look to use IT solutions to control costs.
The firm, which provides software and services that ‘improve the financial return from innovation and product development investments’ expects revenues for 2008 to exceed £9m compared with £6.3m in 2007.
“Market turbulence makes it hard to predict business development in 2009,” chairman Barry Mence.
“We are however very encouraged by the apparent match between our software and the needs of major corporations looking to achieve cost containment while continuing to invest in innovation to ensure their future.”
Among other software firms to say recently they are benefitting firms’ need to cut costs to cope with the recession are the FTSE 100-listed search software group Autonomy, financial services software supplier Focus and escrow software specialist NCC Group.
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