Margins surge at OneClickHR
Article Date: Sep 03 2009
OneClickHR, steered by CEO Frank Beechinor, is up 151% since being tipped for recovery here last year
Human resources software specialist OneClickHR has increased first-half pre-tax profits nearly 15-fold to £356,000.
The Beckenham-based company, which has developed software it to meet client companies’ local, national, international and ‘company-specific’ needs, lifted sales 30 per cent to £3.3 million in the six months to June. The first-half pre-tax profit and a six-month operating profit of £355,000 exceeded by a wide margin the profits chalked up for the whole of 2008, when AIM-quoted OneClickHR achieved sales of £5.8 million.
Steered by chief executive officer Frank Beechinor, the company has been developing new functions for its flagship HR.net Enterprise product and clinched its first deals for it with new partners in North America. OneClickHR developed new functions for Version 4 of HR.net Enterprise and launched new versions for smaller organisations ‘with simpler requirements’.
Chairman Lord Sheppard of Didgemore, the veteran industrialist who once headed the Grand Metropolitan combine, says the company is continuing to win new clients and follow-on business from existing ones. He declares ‘we go into the second half of 2009 with a strong sales pipeline of software licence opportunities’.
Floated at 40p nine years ago, One ClickHR shares were dire performers until, recently, falling to 3.5p within the past year. Recommended at that nadir by Growth Company Investor last October, they have now bounced to 8.88p, valuing the company at £13.2 million.
Partial profit taking might be prudent. But the shares should rally further if current progress is maintained.
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