Led by strong revenues from new SaaS and subscription models
Netherlands-based business software provider UNIT4 has reported a 13% rise in revenue to €225.9m in the first half of 2011.
The company has attributed the rise in revenue to the 53% growth in SaaS and subscription revenues.
UNIT4’s net profit was up by 49% to €20.7m, while services revenue grew 12% to €80.5m and license sales grew 22% to €36.3m.
In the UK, revenue growth was flat primarily due to a number of large contracts in the first half of 2010.
The revenues declined by 11% in Spain as the country’s economic climate was still very poor and reorganisation actions were taken in 2010 and 2011, while in Germany, a period of management reorganisation led to a temporary revenue decline of 18%.
Revenue growth in Singapore, Sweden, Norway, North America and Poland was 85%, 12%, 13%, 13% and 40%, respectively.
FinancialForce.com saw 300% growth in revenue during the period compared to June 2010, led by the acquisition of Appirio PS Enterprise (now FinancialForce PSA) at the end of 2010.
UNIT4 has also entered into an agreement to acquire Norwegian software company Exie for €6.4m, primarily consisting of the product and the R&D department.