Birmingham,UK - Software developer Delcam Ltd achieved record sales of £32.9 million in the year to 31Dec 2008, a rise of 11 percent over sales recorded in 2007. Pre-tax profit rose to £2.26 million compared with the £2.15 million last year, the company said.
Delcam said it continued to increase its high levels of investment in software R&D, investing £8.8 million in the period, compared to £7.8 million during 2007. As well as supporting growth in new software sales and enabling the introduction of new products, this investment contributed to a 20 percent increase in maintenance revenues to £9.7 million.
Delcam chairman Peter Miles commented that, "The next two years are going to be difficult but also an opportunity. The favourable exchange rate, strong cash position and high levels of predictable income present Delcam with a significant opportunity to increase our market share."
Miles said Delcam intends in 2009 to maintain its investment in product development and marketing "to take advantage of the recovery when it comes," while keeping tight control over expenditure.