Autonomy smashes records in half year results
Web infrastructure software company Autonomy has posted the highest revenues and profits in its history in the second quarter and six months to end-June.The Cambridge company’s share price was 15p higher to 423.75p as the markets digested the figures.
Six month revenues were up 200 per cent to £63.77m and pre-tax profit 242 per cent ahead to £11.61m.
Second quarter revenues were up 198 per cent to £33.19m and pbt for the three months was 368 per cent higher to £9.6m.
And CEO Dr Mike Lynch is confident that Autonomy can continue the surge. He said: “We have laid a strong foundation for our continued growth both in the current year and in the longer term.
“It has been a very significant first half. The high operational gearing inherent in our business model has ensured that bottom line performance is surging together with top line growth.
“We have successfully completed strategic acquisitions, converting the businesses to high gross margin models whilst seeing strong up-sell into historic customer bases with products such as the now IDOL-based K2-7.
“Also, during the past year unstructured information issues have gone ‘prime time,’ which has fuelled good organic growth. The strength of our market is evidenced by the number of new multi-million dollar enterprise standardisation contracts Autonomy is seeing.”