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Unaudited Unaudited 6 months 6 months to to 30 June 30 June 2009 2008 % GBP'000 GBP'000 Change
Income Statement:
Revenue 83,293 76,007 +10%
Profit before tax and amortisation of intangible assets 14,519 11,864 +22%
Profit before tax 11,779 9,148 +29%
Earnings per ordinary share - basic (pence) 11.41 8.82 +29%
Adjusted earnings per ordinary share - basic (pence) 14.02 11.55 +21%
Statement of Financial Position:
Total equity 154,658 125,452
Cash and cash equivalents 32,919 15,978
Interest bearing loans and borrowings - (7,156)
Highlights:
- Results in line with expectations
- Headline sales growth of 10%
o 9% organic growth, 1% increase due to 2008 acquisitions
- Positive revenue growth from both segments
o Technology segment grew by 18% (20% currency benefit, 4% increase due to acquisitions, 6% decrease at constant currency)
o Translation services growth of 6%, (20% currency benefit, 14% decrease at constant currency)
- Cross leverageimproving - integrated selling of SDL Tridion, SDL Trisoft and Language Technology
- Progress in operating margin development and efficiency gains initiated
- XyEnterprise acquisitionprovides another step to true GIM leadership and enterprise content management
- Careful and measured cost controls in place, but with continued investment into key areas of the business
- Strong cash generation and net cash position of GBP32.9m
Mark Lancaster, Chairman and Chief Executive of SDL, commented:
"I am particularly pleased to be able to report a solid half year of further progress for SDL, against a difficult macro economic climate. We have delivered both revenue and operating profits in the first half which are significantly ahead of the prior year, with positive organic growth in both technology and translation services, albeit aided by favourable currency movements. This continues the track record of a consistent year on year improvement in performance and demonstrates the resilience of our business model. Our cash generation was very strong and the strength of the balance sheet, with GBP32.9m of net cash and no debt, provides considerable financial flexibility and security.
"We believe we are starting to see real momentum in the realization of our GIM strategy and it has been particularly rewarding to see the recent acquisitions of Tridion, Idiom and Trisoft all generate very positive momentum in the first half of the year.
"The acquisition of XyEnterprise, a recognized leader in Component Content Management and Dynamic Publishing solutions, extends the range of solutions available to our clients and is a further strategic step in our end-to-end GIM technology offer.
"Given the global macro-economic environment, our approach to managing the business will remain measured and appropriately cautious for the rest of 2009; however the resilient performance in the first half provides a sound platform for us to continue to deliver to expectations.
I remain confident that the business is positioned for continued long-term growth and value creation for our shareholders."
About SDL
SDL is the leader in Global Information Management (GIM) solutions that empower organizations to accelerate the delivery of high-quality multilingual content to global markets. Its enterprise software and services integrate with existing business systems to manage the delivery of global information from authoring to publication and throughout the distributed translation supply chain.
Global industry leaders rely on SDL to provide enterprise software or hosted services for their GIM processes, including ABN-Amro, Best Western, Bosch, Canon, Chrysler, CNH, Hewlett-Packard, Microsoft, Philips, SAP, Sony, Sun Microsystems and Virgin Atlantic.
SDL has implemented more than 500 enterprise GIM solutions, has deployed over 170,000 software licenses across the GIM ecosystem and provides access to on-demand translation portals for 10 million customers per month. Over 1,000 service professionals deliver consulting, implementation and language services through its global infrastructure of more than 50 offices in 32 countries. For more information, visit www.sdl.com
All trademarks are the property of their respective owners.
CONTACT: Amy Hall, SDL Tel: +44 (0)1628 410 120 e-mail: amyhall@sdl.com WWW: http://www.sdl.com Mark Lancaster, Chief Executive / John Hunter, Finance Director, SDL plc Tel: +44 (0)1628 410 127 Edward Bridges / Juliet Clarke / Emma Appleton, Financial Dynamics Tel: +44 (0)20 7831 3113
((M2 Communications disclaims all liability for information provided within M2 PressWIRE. Data supplied by named party/parties. Further information on M2 PressWIRE can be obtained at http://www.presswire.net on the world wide web. Inquiries to info@m2.com.
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