Financial Services Industry
Industry: Email Alert RSS FeedNSB RETAIL SYSTEMS (NSB).
Investors Chronicle, September, 2004
NSB has finally drawn a line under the problems that have plagued it for the past few years. Although pre-tax profits were boosted by a GBP10.6m gain from selling its UK business to BT, adjusted operating profits more than doubled to GBP2.15m, driven by increased professional services revenue related to new contract wins. Licence order intake was up by 96 per cent, but a prudent revenue-recognition policy means that a large chunk of that hasn't hit the figures yet, and underpins optimistic second-half forecasts.
Chief executive Nikki Beckett points out that, previously, high gearing left potential customers worried that, if NSB collapsed under the weight of its debt burden, they would no longer be able to provide them with a support function for software...
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