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smartFOCUS confident of continued profitable growth

Published: 02:44 29 Sep 2010 EDT

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SmartFOCUS (LON:STF) is confident it will continue its profitable growth for the remainder of 2010 and beyond, says chief executive Chris Underhill in the group's first half results statement.

In the first six months of the year the company doubled pretax profit.

The marketing software specialist has long-standing relationships with major companies, and these companies' recurring revenues are now representing 63% of total revenue. It achieved a revenue renewal rate above 90% in the period.

"2010 revenue visibility had risen to 88% at the end of August,” Underhill commented.

“This, combined with strong second half trading and continued new business wins, supports the company's confident outlook.”

In the six months ended 30th June 2010, smartFOCUS increased revenue by 17% to £6.6 million (H109: £5.6 million), pretax profit was £0.31 million (H109: £0.15 million) and earnings per share (EPS) reached 0.21p (H109: 0.11p).

SmartFOCUS won contracts with over 30 customers is the period, include significant new contracts with lastminute.com, Expedia, Morgan Stanley and Party Gaming.

The company said its pipeline has continued to grow strongly, which supports the good visibility for the full year performance.

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