Having announced the signing of four new contracts in the past six weeks (from UK investment banks JM Finn and Brewin Dolphin amongst others), the turnaround at financial software business Mondas appears to be gathering pace.

To chief executive Jarlath McGee the improvements reflect the significant changes made to the company over the past two years. Mondas continues to sell a range of specialist and more general business software solutions to financial market and public/private sector clients. Yet recent times have witnessed the acrimonious departure of the group’s former founder, the rationalisation of its software offerings and an increasing focus on acquisitions.

In turn, these adjustments have led to a gradual improvement in fortunes. Mondas floated on AIM in 1998 and has yet to produce a genuine profit, but latest figures – for the year to April 2005 – did represent the company’s best effort thus far. Sales were up 16% at £4.6m and a pre- amortisation and exceptional profit of £79,000 was achieved against an £800,000 loss 12 months earlier.

With two recent acquisitions (offering complimentary software products) now integrated, Mondas hopes to push on more rapidly. House broker Teathers anticipates a £320,000 profit from £6.2m of sales for the current year and with the company currently valued at £5.9m the shares should appeal to investors of a speculative disposition.

Midas Capital	AIM	£24.65m	43.00p	0.00p
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