EDP ‘well placed for the future’

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IT group Electronic Data Processing says it is cautiously optimistic about the future after increasing pre-tax profits by 3.6 per cent on a virtually unchanged turnover.

The Sheffield-based group specialises in providing systems for the UK’s wholesale distribution industry and sales intelligence software to a wider range of sectors.

Chairman Sir Michael Heller said: “We have seen some recent improvement in business confidence, however this remains fragile and businesses in the sectors we address continue to face a mixed picture.

“While there are signs of increased confidence in the markets we address, this remains patchy and many businesses still retain a degree of caution when assessing significant IT expenditure decisions.

“However, with our attractive product offering and financial strength we are well placed for the future.”

EDP’s pre-tax profit for the year to the end of September increased from £766,000 to £794,000 on turnover up slightly from £5.81 million to £5.83 million. The firm says hosting revenues have continued to grow and now represent almost half of its total revenue.

The company spent £940,000 on research and development, principally on enhancing its latest software products - Quantum VS and Vecta.

Quantum VS is aimed at the distribution sector and particularly at builders and timber merchants, suppliers of fixings and fastenings, industrial and security products, electrical wholesalers and food distributors.

Vecta is a browser–based sales intelligence tool for desk top and mobile devices, whose customer relationship management capabilities have been expanded.