NEWS27 November 2009

Portrait Software celebrates revenue rise

Financials UK

UK— Portrait Software, a developer of customer interaction technologies, has reported a 9% rise in revenue for the six months ending 30 September.

Revenue for the period was up from £6.9m last year to £7.5m while the firm delivered operating profit of £0.4m following a loss of £1.3m in 2008.

Product license sales more than doubled to £2.4m from £1.1m, which Portrait said was due to strong demands for analytics and customer marketing applications.

In Europe, revenue was up 16% to £4.7m, while in the US the figure was up 19% to £2.5m. The end of a major project in Australia, however, meant that revenue in the Asia Pacific region fell from £0.8 to £0.4m.

Luke McKeever (pictured), the firm’s chief executive, said: “Demand for Portrait’s predictive customer analytics and customer marketing applications remains high, driven by a shift in market priorities away from new customer acquisition towards customer retention and customer centricity.”