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    Date: Friday 22 Aug 2008

    LONDON (ShareCast) - Financial software firm Business Control Solutions swung to a pre-tax profit at the half year stage as a 28% drop in operating expenses offset a 2% fall in turnover.

    Pre-tax profit came to £29,000 in the six month ended 30 June compared with a loss of £425,000 last year. Revenue fell slightly to £4.55m from £4.66m, while operating expenses have fallen £602,000 on 2007. 

    Revenues in the consulting division grew at 8%, while those in the software unit fell by 39%.

    “We expect market conditions to remain challenging as we move through the second half of the year for both our Consulting and Software businesses,” said chief executive Nigel Walder.

    “However, our client base, diversified portfolio and current sales pipeline provide us with confidence that we will be able to successfully navigate our way through these challenging market conditions,” he added.

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