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Computer Software

Companies: CSW   
01/12/2003

Software developer Computer Software (previously called Software for Sport) have posted positive half year results to 31 August showing an operating profit of £161,000 before goodwill amortisation. Thanks mainly to its purchase of Chorus Application Software in May, turnover is up almost 40%, from £1.8m to £2.5m and the company appears to be in a prime position regarding further acquisitions. Overall, the loss before taxation was down 9.1% to £632,000. Brokers Seymour Pierce are now quietly confident for Computer Software's future progress, as it believes the current management on board have put the company in a good position to make further acquisitions and to show profit in the near future. Market encouragement was illustrated by its share price: it rose 4.9% on the day the results were announced to 42.5p, a marked improvement from its low of 19p in August. Hold.

Market cap: 12.47
PE Forecast: n/a
Share price: 42.5

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