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In a pre-AGM update Sopheon, the provider of software and services to support the product innovation processes, revealed that license sales have continued to climb. In its trading update on May 5 (Sopheon: revenue visibility up, cash down) it had concluded 11 new and extension license orders since the end of financial year 2010 – this has now risen to 15.
There is another indicator that shows Sopheon is hooked into a positive trend - revenue visibility has also gone up since the last trading update, from £6.1m to £6.6m. The company also says it expects to close “ a very substantial” amount of business by the end of June. However, it also notes that customers are still cautious which is making it difficult to predict sales.
Unfortunately, the update did not provide UK-specific information, or which regions the new sales were coming from, which would have been insightful indicators given that during FY10 UK revenues declined by 39% (see Sopheon: strong results but dismal UK performance) while the rest of the business rose substantially.
