Bond International software PLC

Bond International Software plc, the specialist provider of software for the international recruitment and human resources industries, with operations in the UK, USA and Australia, today announces its preliminary results for the year ended 31 December 2004.

Key points
- Turnover up 36.1% to 9,578,000 (2003: 7,037,000)
- Continuing operations up 22% to 8.620,000
- Operating profit before interest and goodwill amortisation 2,018,000 (2003: 522,000)
- Continuing operations 1,367,000
- Pre-tax Profit of 1,881,000 (2003: 451,000)
- Earnings per share up 205% to 6.71p (2003: 2.20p)
- Increase in cash balances to 3.8m (2003: 1.6m)
- Acquisition of EZaccess in March 2004
- Significant impact on turnover and operating profits for the year
- Further revenue generation from conversion of former EZaccess clients to Adapt
- Post year end in February 2005, acquisition of Prairie Developments Inc
- Extending geographical and market coverage in the US as well as increasing recurring revenue from overall customer base

Commenting on the results Chief Executive Steve Russell, said:

With the continuing improvement in prospects for the worldwide staffing industry, the start of 2005 looks extremely encouraging. Our prospect list is particularly strong, with a number of the largest recruitment companies looking to replace or update their existing systems. Our existing client base is also continuing to provide a significant income stream as their own businesses grow and create the need for additional users of our products.

The recent acquisition of Prairie Developments Inc has increased our market share in the US, added new products to the portfolio and has broadened our geographical coverage in this important market. I believe it will prove a valuable addition to the group with a strong income stream and a strong operational cash flow.

All these factors point to a bright future for the company both for 2005 and beyond.î