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Translation software group SDL is to surpass forecasts yet again, with trading for the first half of 2008 seen "significantly ahead of expectations".
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Revenues are set to exceed £75m (2007: £54.5m) and pretax profit expected at £11.5m (2007: £8.7m). Management added that it has entered the second half of 2008 with a good order book and pipeline and assured that despite the difficult economic conditions, SDL full year performance would be strong.
With more companies likely to look to outsourcing as a way of lowering costs during a downturn, SDL's strong performance looks likely to continue. The shares had already gained 6.5 per cent by midday, and at 298p, still offer some upside. Good value.
Last IC View: Good value, 272p, 27 February 2008
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