Delcam still achieving enviable growth

Delcam has matched its record breaking H1 with a record breaking H2 (to December 31 2011) despite earlier concerns about the unpredictability of the market (see here). It expects full year revenue to come in at c£41m vs £36.6m for last year, and £20.1m in H1. Profits before tax should be head of market expectations of £3.2. Last year PBT was £2.26m for the full year and H1 delivered PBT of £1.5m, so the CAD/CAM company is driving up profits as well as achieving growth. The rate of growth is slowing, last year full year revenue was up c17%, this year it looks closer to 12%, but that is still an impressive rate. The detail that will come with the full year results in March will provide insight.