Advanced Computer Software 's (ASW) results duly delivered on the bullish promises of a March trading update. The marked step-up in full-year revenues partly reflects the successful integration of accounting software provider CSH, acquired a year ago. But chief executive Vin Murria emphasised that the high rate of recurring revenues was a clear indication of the underlying strength of the business. These increased to 64 per cent of the total - from 57 per cent in the previous year.
Adjusted cash profits were in line with expectations - including acquisitions, they rose 68 per cent to £45.3m; the organic growth rate stood at 10 per cent. All three strands of the business delivered in the year, with Advanced Business Solutions bringing in ASW's largest ever contract, signed with the Northern Ireland Department of Health.