SQS Software lifts H1 pretax profit, appoints director
Source - SMW
SQS Software has lifted its H1 pretax profit to €7.2m, from a year-ago profit of €5.2m. It said its interim financial performance and ongoing strategic developments were in line with management's views.
Revenue improved to €166.6m, from €150.3m.
CEO Diederik Vos commented: "SQS has delivered a solid first half of the year, reporting double digit top line growth alongside a substantial improvement in profitability, both in PBT and EBIT.
"This growth has largely been driven by strong performances in both our Managed Services and Management Consulting divisions, where we are increasingly cross-selling our services to good effect.
"The US has now become our second largest region after Germany making up 17% of revenues. This shows the strides we have made since the acquisitions last year, and ensures we are on track with our strategy to capitalise on the huge market opportunity the US has to offer.
"The digitised economy opens up new and exciting opportunities for SQS as it enables us to broaden our offering as an end-to-end quality solutions partner.
"With so many industries now reliant on digital solutions that can cope with consumer demand both now and for the future, companies need to know their systems will not fail. Through our vertical industry expertise and end-to-end business solutions, SQS is well placed to benefit from this global trend.
"The Group's pipeline of prospects continues to strengthen across all divisions and the Board believes that SQS is well-positioned to deliver in line with our expectations for the full year."