LONDON (ShareCast) - Logistics software specialist Kewill Systems upped its dividend for last year by a third as underlying profits improved slightly, with the group expecting further growth in the current year.
Profits before intangible
write-downs rose from £7m to £7.5m in the year to March, on revenues of £53.3m, up from £50.9m. Pre-tax profit fell to £1.42m from £1.96m.
"2008/9 was a challenging year as most major economies slipped into recession and many of our customers initiated cost reduction programs that in some cases led to delays to existing projects or in the placing of new orders," chief executive Paul Nichols said.
Going forward, Kewill (LSE: KWL.L - news) expects good growth from the compliance initiatives in the US and Europe and new sales with Kewill Forwarding, Service Logistics and with CustomsXchange.
"We would expect this financial year to see growth as a result of our continued strong sales pipelines, backlog from orders closed in the last quarter of 2008/9, our growing proportion of revenues from SaaS and a continued strong focus on cost control," Nichols added.
The dividend for the year of 1p per share, an increase of 33% on last year.
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