Shares digital

Dicom (DCM) – Interims PTP: £6.09m (£6.02m) Divi: 0.82p (0.71p)

A planned change in name from Dicom to Kofax (KFX) is the latest step in new chief executive officer Reynolds Carl Bish’s attempts to reinvigorate the information capture expert’s growth profile after last year’s pair of profit warnings.

Since his arrival in November, Bish, who had previously co-founded and then sold Kofax’s key rival Captiva, has pruned costs through staff cuts, changed the group’s operational structure and refocused its sales force. This shake up will lead to an extraordinary charge of around £3.5 million in the second half’s accounts.

An ongoing buyback programme and net cash balance sheet should also support the shares, which have already rallied from 141p to 181.5p since the start of the year.

Shares says: Doing all the right things but licensing momentum needs to improve if the shares are to kick on.

by: Russ Mould