OneClickHR
HOLDThe company is enjoying strong sales momentum despite the recession
Shares in human resources software specialist OneClickHR are up 143% since they were backed here in October as its cost-effective products gain foothold across the Pond.
The Kent-based company, tipped here at 3.5p and now 8.5p, is enjoying strong sales momentum in the recession as businesses look for better value than the ‘Tier 1’ providers. Recent impetus in the UK has spread over into North America, with one Canadian and two US deals contributing to a strong six months to June.
In a fresh trading update, chief executive Frank Beechinor reports that sales for the first half of the year will beat comparative numbers from 2008. He adds that this success has continued into the second half, and with bigger customers than the company has historically sold to on this side of the Atlantic.
‘We’ve got three deals coming up in July that would be more than we take in the whole month over here,’ he says. ‘Sage has the largest footprint over there, and we have signed three of their top 12 dealers, one of which has 1,000 customers that he just wants to convert to our technology.’
This surge into new markets is being made prudently, with Beechinor explaining, ‘We’re not doing a whole lot of marketing and we’re not opening offices over there, so there is very little incremental cost for us and almost all these revenues will drop straight through to our bottom line.’
Further advances will also come from the June delivery of three new products into the OneClick family, with first sales already booked. These new releases are aimed at smaller organisations and are designed, says Beechinor, to ‘swat away competitors that try to compete on price’ and ‘upsell’ to legacy customers.
We think taking some profits would be prudent if you got in on our original tip, but keep a handful to capitalise on future growth.
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Market cap: £12.64m
PE Forecast: 21.25
Share price: 8.5p
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