Tikit Group plc Interim Results 2010

London,  9th September: Tikit, the leading independent provider of IT consultancy, services and technology to legal and accounting firms in the UK, US and mainland Europe, today reports interim results for the six months to 30 June 2010.

Key Financial Results (presented under IFRS)

Highlights

Recurring support and outsourcing services revenues up 6% to £6.97 million (H1 2009: £6.59 million); these revenues now contribute 53% of total Group revenues

Operating profit before amortisation of acquired intangibles and share-based charges increased 41% year on year to £1.67 million (H1 2009: £1.18 million) giving a strong improvement in operating margin which increased to 12.6% (H1 2009: 9.1%)

Earnings per share before amortisation of acquired intangibles and share-based charges up 45% to 8.4p (H1 2009: 5.8p)

Interim dividend up 5% to 2.0p per share (H1 2009: 1.9p)

Cash generated from operations in the first half increased 30% to £2.27 million (H1 2009: £1.75 million)

Net cash at period end increased year on year by £1.36 million to £2.09 million (H1 2009: £0.73 million)

Commenting on the results, Mike McGoun, Chairman, said; "The Board is pleased with the progress made in the first half and the Group remains in a strong position despite continued challenging conditions in our market place.  Our planned new service, Tikit Legal Office, will be well positioned to benefit from the trend towards IT outsourcing, particularly in the legal industry.  The fundamentals of our business are strong, and we look towards the full year with optimism."

For the full statement, please click here >

To read the full Interim report, click here

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For more information:
Donna Flanagan
donna.flanagan@tikit.com
+44 (0) 207 400 3737

About Tikit
Tikit is the leading independent provider of IT consultancy, services and software to legal and accounting firms. Tikit's clients in the UK, Europe and the United States include more than 90 of the UK's top 100 law firms, 20 of the top 50 US law firms and 18 of the top 50 UK accountancy firms. Headquartered in London - and listed on the London Stock Exchange (AIM:TIK) - Tikit combines in-depth knowledge of the business needs of legal and accounting firms with a unique capability to plan, implement, integrate and support virtually all of the IT requirements of a modern legal or accounting practice.